History of IDEA
Jeannie Oakes, Founder and Former Director
Youth Voice in School Finance
NEW REPORT: Los Angeles' road to A-G for all
Without Dollars and Sense Powerpoint
Past Educational Opportunity Reports
LAO: Change pensions for new teachers
- 02-14-2011
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Blog by John Fensterwald/Educated Guess
New teachers would be among public employees whose state-financed retirement benefits would shrink under a proposal that the non-partisan Legislative Analyst’s Office outlined last week to limit taxpayers’ future liability. Stating that the current pension system is “too expensive and inflexible,” Jason Sisney, the LAO’s director of state finance, said that the goal should be to “preserve a robust retirement system that more closely resembles that of other Californians.” Sisney outlined two retirement models for future public employees. One would be a hybrid system, combining a smaller guaranteed pension with an employee-employer matching 401(k)-type investment plan like those found in private industry. The other would be to continue the current defined benefit pension, but with employees bearing a bigger share of risks and costs. (more...)
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