CA Should Raise Teacher Pay By Reducing Unfunded Retirement Liabilities

Fast-rising spending on pensions and other retirement costs is crushing teacher staffing and pay in California. As an example, retirement spending at San Francisco Unified School District grew 3x faster than district revenues over the last five years, absorbing $35 million that could have gone to current teachers. Worse, that happened despite record stock market gains and school revenues. Absent reform, teacher staffing and pay will decline further.