California State Teachers’ Retirement System (CalSTRS) is in trouble, and the state of California responded in 2014 with a measure to restore CalSTRS to health. This is a bitter pill for some school districts, according to recent budget forecasts that show that the contributions some districts make toward the system will triple by 2021.
Beginning on July 1, 2015, the state, school districts and teachers will make higher contributions to CalSTRS on an increasing scale for years to come. And they could stay high for decades, according to The San Diego Union-Tribune. For instance, Lora Duzyk, assistant superintendent in charge of business services for San Diego County’s Office of Education, says that San Diego County school districts will have to pay tens of millions for decades due to the economic assumptions on which the law is premised.
Duzyk adds that this will be exacerbated by the expiration of some tax increases put in place under Proposition 30. School districts are among the recipients of these funds.
And the price tag may not just be fiscal. Some school district administrators warn that the crunch may force them to cut instructional programs and professional development as well as delay improvements to technology. San Marcos Unified School District Assistant Superintendent in Charge of Business Services Gary Hamels is among those who warn that replenishing the retirement system may come at the expense of the education services the systems are intended to provide.
Beginning on July 1, 2015, the state, school districts and teachers will make higher contributions to CalSTRS on an increasing scale for years to come. And they could stay high for decades, according to The San Diego Union-Tribune. For instance, Lora Duzyk, assistant superintendent in charge of business services for San Diego County’s Office of Education, says that San Diego County school districts will have to pay tens of millions for decades due to the economic assumptions on which the law is premised.
Duzyk adds that this will be exacerbated by the expiration of some tax increases put in place under Proposition 30. School districts are among the recipients of these funds.
And the price tag may not just be fiscal. Some school district administrators warn that the crunch may force them to cut instructional programs and professional development as well as delay improvements to technology. San Marcos Unified School District Assistant Superintendent in Charge of Business Services Gary Hamels is among those who warn that replenishing the retirement system may come at the expense of the education services the systems are intended to provide.
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