California School Manager Benefits Surge As State Pension System Faces Crisis

Payouts for the top-earning public school retirees in California are soaring even as districts are being asked to pay more to gird the teachers’ retirement system against a funding crisis.

Seventy-five former school administrators collected pensions of more than $200,000 last year, compared with one a decade earlier, according to data compiled by Bloomberg from the California State Teachers’ Retirement System. The average pension of 200 former school administrators at the top of the CalSTRS scale rose 63 percent in the past decade, while the average rose 4 percent for all 269,274 teachers and other plan participants.

“To take home ...