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California teacher’s pension faces $73 billion funding gap

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The Scacremento Bee reports that a nonpartisan state agency has urged the Golden State to fully fund its teachers’ pension fund, also known as CalSTRS. That will be a huge cost for the already-financially-strapped state, give that the fund faces a $73 billion shortfall: The funding gap represents an estimate of the long-term shortfall in money needed to pay benefits. Hurt by the recession and...

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