Playing catch-up on public pension funding:

For years, the California State Teachers’ Retirement System suffered from considerable underfunding. In 2014, the state finally came up with a plan to fully fund the pension obligations made to teachers by the mid-2040s. Within the context of a financially irresponsible pattern of underfunding, this was a responsible development.
Naturally, this comes at a cost, as the state, school districts, teachers and taxpayers play catch-up in addressing CalSTRS’ $96.7 billion unfunded liabilit