Now it's the teachers' pension fund that's reporting money trouble

The topic of Illinois' various insolvent pension systems is not news to regular Zero Hedge readers.

TORONTO – There could be some relief on the horizon for Canadian pensions with solvency positions improving “sharply” in the first quarter of this year due to a strong equity market performance and an uptick in long-term interest rates, according to a report released Tuesday by pension consultant Mercer LLC. In addition, “plan sponsors have been making contributions to fund the deficits,” said Manuel Monteiro, a partner in Mercer’s financial strategy group.

The California State Teachers' Retirement System (CalSTRS), the nation's second-largest public pension, fund is worried that founder and chief executive Mark Zuckerberg has too much unchecked power.

Osman Gulseven submits: Established in 1913, The California State Teachers' Retirement System (CalSTRS) is one of the oldest state supported pension funds. CalSTRS is the largest teachers' retirement fund portfolio in the country, and also the seventh largest public pension fund in the world. The pension fund provides retirement, disability and survivor benefits to almost 900,000 state educators working in the state of California.

People will be paying more and getting less from their governments as health costs and pension obligations will force state and local governments to adjust their budgets over the next 50 years, according to a new report. The new report from the Government Accountability Office, a nonpartisan congressional agency that audits federal programs, paints a dreary picture of the future of municipal finances in the United States.

I just finished slogging through a 69 page PDF by the State Budget Crisis Task Force outlining the dire state of affairs in Illinois. I knew in advance that pension funding is the biggest issue facing Illinois. The task force shows exactly that. Here is a summary. Pension Funding Levels

John Lounsbury submits:Orin Kramer, a senior partner at the hedge fund Boston Provident and chairman of New Jersey’s investment council (advisor for N.J. pension funds), has estimated that public pension funds need an additional $2 trillion to meet future obligations.

CEO of the California State Teachers' Retirement System cites 'a breakdown of corporate governance and lack of oversight' in the wake of bribery allegations in Mexico.SACRAMENTO — The California State Teachers' Retirement System will cast its 5.3 million shares of Wal-Mart Stores Inc.