California actually has a good track record making its payments to CalPERS — unfortunately, the same can’t be said for CalSTRS. Even so, the state’s track record on both fronts got better last week when lawmakers upped its 2014 payment to the two systems by a combined $1 billion.
__________
[iframe src=”<iframe src=”http://cf.datawrapper.de/S3WXk/4/” frameborder=”0″ allowtransparency=”true” allowfullscreen=”allowfullscreen” webkitallowfullscreen=”webkitallowfullscreen” mozallowfullscreen=”mozallowfullscreen” oallowfullscreen=”oallowfullscreen” msallowfullscreen=”msallowfullscreen” width=”600″ height=”400″></iframe>”]
__________
Contributions to CalPERS aren’t the problem; the state has made good on their Actuarially Required Contribution for years now (although, if we’re being honest, the fund could always use more state dollars. And there’s no rule against paying more than 100% of an ARC). But CalSTRS is another story.
___________
[iframe src=”<iframe src=”http://cf.datawrapper.de/Sheov/2/” frameborder=”0″ allowtransparency=”true” allowfullscreen=”allowfullscreen” webkitallowfullscreen=”webkitallowfullscreen” mozallowfullscreen=”mozallowfullscreen” oallowfullscreen=”oallowfullscreen” msallowfullscreen=”msallowfullscreen” width=”600″ height=”400″></iframe> “]
California took a step forward last week by increasing its contribution for FY 2014-15. But there is still much work that needs to be done.