California teachers' pension fund faces $64.5-billion shortfall

Ed Derman, deputy chief executive of the California State Teachers' Retirement System, says the $152-billion pension fund has only 69% of what it needs to meet future obligations.

SACRAMENTO — The nation's second biggest public pension fund, which provides retirement benefits for almost half a million California teachers, faces a projected $64.5-billion shortfall over the next three decades.

Source: http://feeds.latimes.com/~r/latimes/business/~3/Jya1khJ-aYQ/la-fi-calstrs-20120411,0,1954370.story

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