July 2024
Districts' Pension Contribution Rates and Amounts
(Dollars in Millions)
Actual | Projectionsa | ||||||
2022-23 | 2023-24 | 2024-25 | 2025-26 | 2026-27 | 2027-28 | ||
Contribution Rates | |||||||
CalSTRS | 19.1% | 19.1% | 19.1% | 19.1% | 19.1% | 19.1% | |
CalPERS | 25.4% | 26.7% | 27.8% | 28.5% | 28.9% | 30.3% | |
Contribution Amounts | |||||||
CalSTRSb | |||||||
School districts | $6,160 | $6,544 | $7,070 | $7,317 | $7,573 | $7,838 | |
Community colleges | 515 | 531 | 567 | 587 | 608 | 629 | |
Subtotals | ($6,675) | ($7,075) | ($7,637) | ($7,904) | ($8,181) | ($8,467) | |
CalPERSc | |||||||
School districts | $3,277 | $3,848 | $4,121 | $4,344 | $4,528 | $4,881 | |
Community colleges | 574 | 616 | 660 | 695 | 725 | 781 | |
Subtotals | ($3,851) | ($4,464) | ($4,781) | ($5,039) | ($5,253) | ($5,662) | |
Total District Contributions | |||||||
School districts | $9,438 | $10,392 | $11,191 | $11,661 | $12,101 | $12,719 | |
Community colleges | 1,088 | 1,147 | 1,227 | 1,282 | 1,333 | 1,410 | |
Totals | $10,526 | $11,539 | $12,418 | $12,943 | $13,434 | $14,129 | |
a Projections are based on CalSTRS' and CalPERS' most recent actuarial valuations. Rates and amounts for 2025-26 and subsequent years will be updated based on actual teacher payroll and investment returns, among other factors. | |||||||
b Total contribution amounts are LAO estimates based on creditable compensation. Share of contributions from schools and community colleges through 2024-25 are based on the split of payroll from CalSTRS' creditable compensation reports. Thereafter, we assume the shares remain constant. | |||||||
c Contribution amounts are estimates provided by CalPERS as of January 2024. | |||||||
CalSTRS = California State Teachers' Retirement System. CalPERS = California Public Employees’ Retirement System. |