US - The California State Teachers' Retirement System (CalSTRS) will see its state contributions cut by 11% next year, while its counterpart, the California Public Employees' Retirement System's (CalPERS), will enjoy a US$237m increase.
The changes were announced as part of the 2006-07 California budget. According to the Legislative Analysts Office (LAO), a non-partisan fiscal and policy adviser, the state reduced CalSTRS' fundi...
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