debt

California Legislature to Tackle Teacher Retirement Fund Debt

Jan 29, 2014
Andrew Nixon / Capital Public Radio

Some lawmakers say it’s time to get serious about paying down debt accrued by California's teachers’ retirement system. But, as Katie Orr reports from Sacramento, that will take a big financial commitment.

Assembly Democrats say they’re ready to look for ways to pay down the unfunded liability of the California State Teachers’ Retirement System. The governor’s office puts the debt at more than $80 billion.

Speaker John Perez says the Assembly will begin hearings on the issue.