Miscalculations in retirement funds plunge California teachers into debt

For weeks, 73- year-old Ann Jaramillo had been bracing for the decision that could redefine her golden years. It had been nearly a decade since the retired Salinas teacher found out her benefits package had been miscalculated by her school district— and nine years since CalSTRS, the teachers’ state retirement agency, told her that she owed them $75,000.