Want to know another reason California’s teachers unions are desperate to unionize charter schools? They want the leverage to force these schools to participate in CalSTRS, because CalSTRS charges all its participants the same pension contribution rates.
This is a truly amazing, grotesquely unfair, astonishing scam. It means that new schools have to pay for the every financial mistake that CalSTRS ever made, and they’ve made plenty. CalSTRS is only64 percent funded. CalSTRS is $107 billion in debt – that’s $238,000 peractive member. Better get more active members!
Even CalPERS, the largest public employee pension system in the U.S., and one that has engaged in its own share ofaccounting gimmicks, doesn’t make its financially responsible participants pay for the negligence of its financially irresponsible participants. Every… Read More