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4 things to know about LAUSD’s pension costs and other benefits obligations for its teachers and other staff
*UPDATED LA Unified is facing a budget deficit that will increase to nearly half a billion dollars within the next three years primarily due to declining enrollment and increased pension and healthcare costs. Last weekend, the Los Angeles Times, CALmatters and Capital Public Radio published the first of a series of stories examining the effects...
By Sarah Favot | September 22, 2016
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Ouch! LAUSD to pay $1.1 billion for teacher pension rescue
LA Unified must come up with $16 million this year to pay an unexpected bill as a result of legislation signed by Governor Jerry Brown aimed at rescuing the state’s teachers retirement pension system known as CalSTRS, but the district’s total increase is much higher, estimated to reach an extra $1.1 billion over the next seven...
By Yana Gracile | July 7, 2014
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Teachers Fund Reconsiders $500M Firearms Investment
In the aftermath of Friday’s deadly school shooting, the California teachers pension fund — the largest teachers’ retirement fund in the United States — is rethinking its $500 million investment in Cerberus, a private equity firm that owns a gun manufacturer called Freedom Group, according to this story in the LA Times. After the teachers pension fund announced Monday...
By Samantha Oltman | December 18, 2012
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Morning Read: Prop. 38 Debate Heats Up
Leg Analyst: Prop. 38 Won’t Stop $6 Billion in Trigger Cuts to Schools CTA Blog: During a September 24 hearing, a member of the nonpartisan Legislative Analyst Office’s team told members of the Assembly Budget Committee that Proposition 38 would not prevent $6 billion in automatic or trigger cuts to public education in 2011-2012. TV ads for...
By Hillel Aron | September 25, 2012