Assembly speaker calls for new effort on teacher pensions
SACRAMENTO -- Assembly Speaker John A. Pérez (D-Los Angeles) said Wednesday that state leaders must begin tackling problems with the California teachers pension fund this year.
The fund currently faces a $71-billion shortfall, Pérez said, and it’s growing every day because contributions aren’t keeping up with costs.
“Further delays only mean further costs,” he said. “The fix must begin this year.”
A legislative report released last year said the pension system could run out of money by 2044.
Gov. Jerry Brown, whose administration has pegged the shortfall at $80.4 billion, also wants to address the issue but has been willing to wait until next year to implement potential solutions.
He has suggested requiring teachers, schools and the state to chip in more money to the pension fund.
Pérez did not propose any fixes during a Capitol news conference on Wednesday, saying “all options are on the table” and ideas should be vetted in public hearings.
The first hearing, to be led by Assemblyman Rob Bonta (D-Alameda), is scheduled for Feb. 19.
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Twitter: @chrismegerian
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