California State Teachers' Retirement System (CalSTRS) Analysis of School Districts' Pension Costs and Liabilities in San Diego County
The San Diego County Taxpayers Association (SDCTA) today released a study that finds contributions to the public retirement system for California's teachers are continuing to fall short of mandated obligations "by hundreds of millions of dollars" despite a decade of warnings. The California State Teachers Retirement System (CalSTRS) is the 100-year-old Defined Benefit Pension system for the state's public school teachers, from the elementary level through community college. In San Diego County, 47 districts use this system. The required combined annual contribution rate is 34 percent, to fully fund retirement obligations. But total contribution rates by employees, employers and the state consistently have hovered around 19 percent, almost half the needed amount.