Even though California teacher pensions - and therefore that debt - are guaranteed by the state, for accounting purposes the state treats that obligation as off its balance sheet, as if its not on the hook.
California got some good news recently when Assembly Speaker John Perez called upon lawmakers to act this year to find a solution to the states largest fiscal issue -- the $80 billion unfunded liability of the teacher pension system.
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{
"uri": "/2014/04/14/how-governors-trick-reporters-on-budget-surplus/",
"title": "How governors trick reporters on budget ‘surplus’",
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"summary": "Even though California teacher pensions - and therefore that debt - are guaranteed by the state, for accounting purposes the state treats that obligation as off its balance sheet, as if its not on the hook.",
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{
"uri": "/2014/03/03/californias-600-billion-zero-coupon-pension-hole/",
"title": "California's $600 billion zero-coupon pension hole",
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"summary": "California got some good news recently when Assembly Speaker John Perez called upon lawmakers to act this year to find a solution to the states largest fiscal issue -- the $80 billion unfunded liability of the teacher pension system.",
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