EdBudget Figures
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July 2023
Proposition 98 Overview
Contributions to CalSTRS
(Dollars in Billions)
| Actual | Projectionsa | ||||||||
| 2019-20 | 2020-21 | 2021-22 | 2022-23 | 2023-24 | 2024-25 | 2025-26 | 2026-27 | ||
| Contribution Rates | |||||||||
| Employersb | 17.1% | 16.2% | 16.9% | 19.1% | 19.1% | 19.1% | 19.1% | 19.1% | |
| Statec | 10.3% | 10.3% | 10.8% | 10.8% | 10.8% | 10.8% | 10.8% | 10.8% | |
| Teachers (pre-PEPRA) | 10.3% | 10.3% | 10.3% | 10.3% | 10.3% | 10.3% | 10.3% | 10.3% | |
| Teachers (PEPRA) | 10.2% | 10.2% | 10.2% | 10.2% | 10.2% | 10.2% | 10.2% | 10.2% | |
| Contribution Amounts | |||||||||
| Required Contributions | |||||||||
| Employers | $5.6 | $5.5 | $5.9 | $6.7 | $7.1 | $7.3 | $7.6 | $7.8 | |
| State | 3.3 | 3.4 | 3.7 | 3.7 | 3.9 | 4.1 | 4.2 | 4.4 | |
| Teachers | 3.4 | 3.5 | 3.6 | 3.6 | 3.8 | 3.9 | 4.1 | 4.2 | |
| Subtotals | ($12.3) | ($12.4) | ($13.1) | ($14.0) | ($14.8) | ($15.3) | ($15.9) | ($16.4) | |
| Additional Contributions | |||||||||
| Stated | $1.1 | $0.3 | $0.6 | — | — | — | — | — | |
| On behalf of employerse | 0.3 | 1.0 | 0.8 | — | — | — | — | — | |
| Subtotals | ($1.4) | ($1.3) | ($1.3) | — | — | — | — | — | |
| Totals | $13.7 | $13.7 | $14.5 | $14.0 | $14.8 | $15.3 | $15.9 | $16.4 | |
| a Projections are based on CalSTRS' most recent actuarial valuation. Rates and amounts for 2024-25 and subsequent years will be updated based on actual teacher payroll and investment returns, among other factors. | |||||||||
| b Reflects effective rates for school districts and community college districts. For 2019-20 through 2021-22, districts' rates are offset by contributions from the state made on their behalf, as further detailed below. | |||||||||
| c Rates include the state's required contribution to the Supplemental Benefits Maintenance Account. | |||||||||
| d Reflects state supplemental payment for paying down unfunded actuarial obligation, using Proposition 2 funds. Also includes one-time General Fund payment of $173 million in 2021-22, to offset the state's budget action in 2020-21 to hold the state's contribution rate flat. | |||||||||
| e Payments made by the state on districts' behalf. The amounts are equivalent to the following percentages of teacher payroll for the year: 1.03 percent in 2019-20, 2.95 percent in 2020-21, and 2.18 percent in 2021-22. | |||||||||
| CalSTRS = California State Teachers' Retirement System. PEPRA = Public Employees' Pension Reform Act. | |||||||||