Posts Tagged: shock
The University of California, grappling with the coronavirus pandemic, will make academic testing — such as the SAT and ACT — optional for the Fall 2020 admissions cycle. But that policy may be short-lived: Next month, the Board of Regents will meet to decide the future of standardized tests in UC admissions beyond 2020.
Calpensions: The CalSTRS board voted this month to “watch” a new cost-neutral bill in Congress that would reduce what has been an unpleasant surprise for some teachers and a shock to others — joining CalSTRS can cut Social Security benefits. Two federal laws enacted to avoid Social Security overpayment and inequity are mainly aimed at government employees who receive a pension but no Social Security.
The total spending increase needed to get CalSTRS, brought low by mismanagement, back to full funding may be the biggest-dollar scenarios ever presented to a California legislative committee. Legislators were told last week an additional $181.7 billion would be needed for full funding in 20 years. If payments are spread out to ease the budget bite, the additional amount needed to reach full funding in 60 years is a staggering $618 billion.
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