July 2021

Proposition 98 Overview

Districts' Pension Contribution Rates and Amounts

(Dollars in Millions)

  2019-20 2020-21 2021-22 2022-23 2023-24 2024-25
Contribution Ratesa          
CalSTRS 17.1% 16.2% 16.9% 19.1% 19.1% 19.1%
CalPERS 19.7 20.7 22.9 26.1 27.1 27.7
             
Contribution Amounts          
CalSTRSb            
School districts $5,183 $5,045 $5,413 $6,324 $6,546 $6,774
Community colleges 438 427 464 542 561 581
Subtotals ($5,621) ($5,472) ($5,877) ($6,866) ($7,107) ($7,355)
             
CalPERSc            
School districts $2,392 $2,625 $2,985 $3,495 $3,728 $3,916
Community colleges 415 456 519 607 648 680
Subtotals ($2,807) ($3,081) ($3,504) ($4,102) ($4,376) ($4,596)
             
Total District Contributions          
School districts $7,575 $7,670 $8,398 $9,818 $10,274 $10,690
Community colleges 853 883 983 1,150 1,209 1,261
Totals $8,428 $8,553 $9,381 $10,968 $11,483 $11,951
             
Notes:            
a Projections for 2022-23 through 2024-25 are based on CalSTRS' and CalPERS' most recent actuarial valuations (for the fiscal year ending June 30, 2020). Final rates for those years will vary based on actual investment returns and other factors.
b Total contribution amounts are LAO estimates based on creditable compensation. Share of contributions from schools and community colleges through 2021-22 are based on the split of payroll from CalSTRS' creditable compensation reports. Thereafter, we assume the 2021-22 share is constant. Excludes payments made by the state on behalf of employers. For contributions made by the state on districts' behalf, see here.
c Contribution amounts are estimates provided by CalPERS. Excludes payments made by the state on behalf of employers. For contributions made by the state on districts' behalf, see here.
CalSTRS = California State Teachers' Retirement System. CalPERS = California Public Employees’ Retirement System.