Me too. Nothing is ever for sure.
As a result, the state auditor has recommended that CalSTRS raise the contribution rates for teachers and employers. CalSTRS, unlike the California Public Employees Retirement System (CalPERS), must obtain permission from the state legislature to raise contribution rates.
Yes, I can see where that might become necessary, given the current sorry state of the economy.
Typical is the August 11 editorial by the Sacramento Bee entitled “Finally, a Crackdown on Pension Spiking,” which states: “Recent revelations about excessive payouts and questionable compensation calculations at CalSTRS suggest that the state’s second-largest retirement system may be losing tens of millions of dollars annually in overpayments
It's about time they cracked down on that one. What happens is that administrators (teachers are generally not able to do this) accept a one year pay hike that affects their pension calculations.
Personally, I'm not terribly worried. I have IRAs as well, and haven't had to use them yet. Maybe if I live to be 110, I could have a problem.