Thousands of retired teachers in California are getting hit with significant bills from the state’s teacher retirement agency due to a miscalculation of benefits.
Now, those teachers are left to repay large sums to the California State Teacher Retirement System, the second-largest pension fund in the nation, according to the system’s website.
While some mistakes have happened due to reporting errors by retiring employees or the school district where they were employed, some are miscalculations by the system.
The amount an individual teacher must pay back varies from case to case, and it’s currently unknown how many teachers have been affected. However, the Mercury News reported that there were 10,000 retired teachers who had their benefits reduced between 2016 and 2022 and must now pay back some funds….