In Partnership with 74

Could Prop 30 Money Go to Pension Fund?

Samantha Oltman | April 4, 2013

Your donation will help us produce journalism like this. Please give today.

The California Teachers Pension Fund (CalSTRS), the largest fund of its kind in the United States, is facing a $70 billion budget crisis, and there are growing concerns that Prop 30 money could be diverted from local schools and into the pension system.

A Huffington Post article on Wednesday pointed to a recent report from the California Legislative Analyst’s Office, which warned that the teachers pension fund is $73 billion and counting in debt, and if nothing is done to intervene, the fund will disappear completely in 30 years.  A recent Bloomberg op-ed speculated that some of Prop 30’s $6.8 billion annual funds could be funneled away from schools and used to repair the teachers pension system.

Previous posts:  Deasy & Zimmer Praise Prop. 30 PassageUTLA, LAUSD Prep for Prop. 30 Budget Battle

Read Next