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Report Says California's Teachers Pension Fund Needs an Additional $4.5 Billion a Year

SACRAMENTO -- For years, problems with California's pension fund for teachers and school employees have been growing. Now a new report says the fund needs an additional $4.5 billion every year -- more than Sacramento spends on both university systems combined -- to stay above water.

Senate leader Darrell Steinberg (D-Sacramento) told reporters on Thursday that lawmakers can't ignore the growing costs.

"This is a serious issue," he said. "We have to address it."

Source: LA Times. Read full article. (link)

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