CalSTRS is Not in Immediate Crisis

At a recent meeting the CalSTRS board heard from attorney John Stanton a summary of claims that have been propagated against CalSTRS and other public pension funds in the state. Rather than denying a long-term funding problem exists, he spoke of efforts to assert the imminent insolvency of public pension plans.

CalSTRS pension fund is not in immediate crisis. The long-term funding health of our plan is improving. The CalSTRS investment return of 8.2 percent for the past 20 years exceeds our assumptions. Our benefits are paid for and funded for decades.

Read more at The Orange County Register

Editorial: Pension Defenders Invested in a Fallacy

Here's a novel tactic in the debate over reforming public employee pensions so that they don't wind up bankrupting governments at all levels: Deny there's a problem. John Stanton, an attorney for the California State Teachers Retirement System, the country's second-largest public pension fund, told the CalSTRS board last week that California isn't facing a pension crisis at all.

Read more at The Orange County Register