Tagged: retirement

When state lawmakers were beating their chests last year about the need to reduce pension liabilities, they didn’t actually do anything about the largest liability of all. 

The California State Teachers Retirement System – known as CalSTRS – is facing a projected $70 billion shortfall.   KPCC’s Julie Small attended a sobering hearing Wednesday on the state’s options for closing the gap.

The world for the retiree is evolving. For some retirement means a chance to globe-trot or travel across the country in an RV, but for many 65 is just another milestone, a reminder of poor financial decisions earlier in life or a chance to explore a second career.

This week on Valley Edition we look into an airplane disaster that took place in the hills near Coalinga 65 years ago. The accident grabbed national headlines and even inspired a song by Woody Guthrie titled 'Deportee.' Valley Public Radio reporter Rebecca Plevin explores the tragedy with the help of local author Tim Z. Hernandez and his quest to ensure that those who died in the crash are not forgotten. Hernandez, along with the Fresno Diocese and Holy Cross Cemetery are working together to erect a memorial headstone with the full names of all 28 passengers. 

A new report shows the unfunded liability for state retiree health benefits in California has grown to more than $63 billion.

As Amy Quinton reports from Sacramento, State Controller John Chiang says some increases in future liability could be prevented.

Chiang says the unfunded obligation for state retiree benefits has grown almost two billion dollars from 2011 to 2012. That’s less than expected because of fewer and less expensive healthcare claims.