Posts Tagged: $450
The headquarters building of the Board of Equalization in Sacramento, 450 N Street. (AP Photo/Rich Pedroncelli)
To the passer-by, the tower at 450 N Street is a downtown landmark, soaring assertively 24 stories into the Sacramento sky. But for more than a decade, the Board of Equalization’s (BoE) headquarters building has been a nightmare to an assortment of state bureaucrats. Glass panels fall out; water leaks; elevators stop between floors; there are potentially dangerous contaminants; plaster falls off walls; there are lawsuits.
Lobby of the CalSTRS building in West Sacramento. (Photo: Paul Houseberg)
Gov. Brown has made a long-delayed proposal to get CalSTRS to full funding over the next three decades, giving the biggest rate hike to schools and smaller increases to the state and teachers. The nation’s largest teacher pension fund, which received $5.8 billion from the three sources last fiscal year, needs an additional contribution of about $4.2 billion a year to project full funding in 30 years.