Both the State Teachers' Retirement System (CalSTRS) and the Public Employees' Retirement System (CalPERS) generated double-digit returns on their investment portfolio, the systems recently announced.
CalSTRS reported that for the past year, its return on investment hit 19.1%.
CalPERS announced it had earned a 16.2 percent investment return for the 12-month period ending Dec. 31, 2013.
Although CalSTRS is heading in the right direction on their double digit earnings, it is not enough to overcome the unfunded liability. During his budget address Jan. 9, Gov. Brown said that ensuring the stability of the teachers' secure retirement system would be a priority for the year ahead. He's pledged to call together stakeholders, including pension system members, CTA, and other organizations representing public employees to reach an agreement about how to achieve that goal.