
Pensions devour school budgets, flatten teacher pay
“California’s public schools have enjoyed a remarkable restoration of funding since the bone-deep cuts they endured during the recession, but many now face a grave financial threat as they struggle to pay the escalating costs of teachers’ pensions,” reports Jessica Calefati on CalMatters. More than half of the new money will go to pension costs, estimates the state Department of Finance and Legislative Analyst’s Office. Some districts are predicting deficits and many are alre