SAN FRANCISCO, March 20 California's pension
fund for teachers could run out of money by 2044 unless
contributions to it are increased to address its $73 billion
unfunded liability, the state's budget watchdog agency said on
The Legislative Analyst's Office added that the California
State Teachers' Retirement System's unfunded liability may be
the most significant long-term fiscal challenge facing the
government of the most populous U.S. state.
Additional contributions of $4.5 billion to the retirement
system, known as Calstrs, would fully fund its obligations in 30
years, according to the Legislative Analyst's Office.
The retirement system serves roughly 860,000 people and is
the second-largest U.S. public pension fund, is funded by
teachers and other school employees, school districts and the
state government. Combined they are currently contributing $5.7
billion to the pension fund.
The state is paying about $1.4 billion, districts pay about
$2.2 billion and teachers and other school employees pay $2.1