CalSTRS fees will go up

The Sacramento Bee reports that the California Legislature has come up with a solution for the shortfall in CalSTRS.  Basically, everyone is going to be paying more into it.  The article states:  

Under AB 1469, approved by lawmakers as part of a package of budget bills, CalSTRS will get increased contributions from school districts, the state and teachers themselves. The plan, which kicks in July 1, is designed to gradually erase a $74 billion gap between CalSTRS’ assets and its long-term obligations.
Much of the added burden will be felt by school districts. Their combined annual contribution will grow from $2.2 billion to nearly $6 billion, with the increases phased in over seven years, said CalSTRS Deputy Chief Executive Ed Derman.
School district officials said the increased pension contributions will devour much of the increased funding the Legislature approved for education. The budget approved Sunday includes an additional $4.75 billion for school districts under a new funding formula.

How this will impact negotiations is another matter.  More later.

Read more here: http://www.sacbee.com/2014/06/16/6487421/legislature-delivers-financial.html#storylink=cpy