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Legislature scales back Brown's teacher pension rescue plan

posted May 23, 2014, 2:20 PM by Gary Jones

State legislators heard a heavy litany of complaints from school officials this week about Gov. Jerry Brown's plan to make the State Teachers Retirement System solvent and in response temporarily toned down the bite on their budgets.

In response, the chairs of the two legislative committees involved asked for a modification and on Friday, the Legislative Analyst's Office released a revised chart that would reach the same level of financing sought by Brown by 2020, but lower the increase in the early years and raise it later.

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