According to the LA Times, California State Teachers' Retirement System also known as CalSTRS is one of the biggest financial problems for that state.
Jerry Brown and other leaders in the legislature have said they will repair the system which currently is valued at $181.1 billion and supposed to finance the retirement of 800,000 public school teachers, administrators, and other officials.
CalSTRS is the second largest public pension system in the country second to CalPERS, and it faces a $71 billion shortfall and gets worse by $22 million every day.
Read more at the LA Times
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