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March 20, 2013 - Last year, the Legislature asked CalSTRS to submit a report detailing at least three options for addressing the unfunded liabilities of the pension system's Defined Benefit (DB) Program, which are now estimated by system actuaries to total about $70 billion. This handout for the Legislature's Public Employment and Retirement Committees (1) describes the risks of waiting to address CalSTRS' unfunded liabilities, (2) compares CalSTRS' unfunded liabilities to California's other long-term liabilities, (3) and examines possible sources for additional funding. We recommend that the Legislature adopt a plan that aims to fully fund CalSTRS' unfunded liabilities in about 30 years. A companion video further explains our findings and recommendations.
March 14, 2013 - Over the past five budget years, furloughs reduced state employee compensation costs by about $5 billion in exchange for giving state employees additional time off. This report examines whether state employees took this additional time off—or whether, after accounting for changes in use of vacation and other time, they worked about as many days as they did before. We find that (1) state workers used most of their furlough days, but decreased their use of vacation and annual leave days, and (2) state leave liabilities and payments to separating employees are now at historic levels.
March 12, 2013 - Presented to Assembly Budget Subcommittee No. 4 on State Administration
November 1, 2012 - Presented to: Local Agency Investment Fund Annual Conference
October 11, 2012 - Real Estate Fraud Prosecution Trust Fund Program Chapter 942, Statutes of 1995 (SB 537, Hughes)
September 25, 2012 - Presented to: Assembly Insurance Committee Hon. Henry T. Perea, Chair and Senate Insurance Committee Hon. Ron Calderon, Chair
May 24, 2012 - Presented to the Assembly Special Committee on the Governor's Reorganization Plan No. 2, Hon. Joan Buchanan, Chair.
April 20, 2012 - We reviewed the proposed Memorandum of Understanding for Bargaining Units 12 (Craft and Maintenance), 16 (Physicians, Dentists, and Podiatrists), 18 (Psychiatric Technicians), and 19 (Health and Social Services/Professionals). If adopted, the MOUs would result in modest increases in state costs for employee compensation.
April 13, 2012 - Presented to Joint Conference Committee on Public Employee Pensions, Hon. Warren T. furutani, Chair, and Hon. Gloria negrete McLeod, Chair
March 20, 2012 - Presented to Senate Elections and Constitutional Amendments Committee and Assembly Elections and Redistricting Committee
March 7, 2012 - Presented to Joint Oversight Hearing on Land Use and Community Development, Assembly Housing and Community Development Committee and Assembly Local Government Committee
February 22, 2012 - Presented to: Senate Transportation and Housing Committee and Senate Governance and Finance Committee, Hons. Mark DeSaulnier and Lois Wolk, Chairs
January 27, 2012 - As part of legislation authorizing seven local governments to participate in a pilot program regarding electronic filing of Statements of Economic Interests forms, the Legislature requested our office to evaluate the pilot program. This report presents our findings.
November 8, 2011 - The Governor’s 12-point pension and retiree health plan would result in bold changes for California’s public employee retirement programs. His proposals would shift more of the financial risk for pensions—now borne largely by public employers—to employees and retirees and would, in so doing, substantially ameliorate a key area of long-term financial risk for California governments. Despite the proposal’s strengths, it leaves many questions unanswered, such as how his hybrid plan and retirement age proposals would work and how the state should cope with large unfunded liabilities already affecting the California State Teachers’ Retirement System, the University of California Retirement Plan, and the health benefit program for state and California State University retirees. The Governor’s proposal to increase many current public employees’ pension contributions also raises significant legal and practical issues.
October 24, 2011 - Real Estate Fraud Prosecution Trust Fund Program