State legislators heard a heavy litany of complaints from school officials this week about Gov. Jerry Brown‘s plan to make the State Teachers Retirement System solvent and in response temporarily toned down the bite on their budgets.
The Brown plan aims to close a $70-plus billion unfunded liability by eventually raising contributions to $5-plus billion a year, with the lion’s share coming from the budgets of local school districts.
But school officials told a joint legislative hearing that the sharp increases would wipe out much of the gains in state aid they are scheduled to receive during the remainder of the decade.
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