Districts’ average payments to pension funds CalSTRS and CalPERS doubled to about $1,000 per student in 2017-18. But contributions varied among districts and will continue to rise for at least two more years.
A coalition of school districts wants Gov. Jerry Brown and the Legislature to clarify how much money will be available to schools following the deal that legislators struck earlier this year requiring districts to make higher pension payments.
Riding the wave of record high stock prices on Wall Street, the fund providing pension benefits for California teachers and school administrators reported Monday that it earned a return of 18.66 percent on its assets for the year that ended June 30.