Retired California Teachers Asked to Pay Back Miscalculated Benefits

U.S. one dollar banknotes are seen in front of displayed stock graph, on Feb. 8, 2021. Dado Ruvic/Reuters

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.