The 2016-17 Budget: Public Employment Relations Board (PERB)

Mar 1, 2016 - Each year, departments ’ costs of doing business increase. These costs include (1) inflationary cost increases for operating expenses and equipment (rent, postage, fuel, etc.) and (2) merit salary adjustments that departments must provide to eligible employees every year.
https://lao.ca.gov/Publications/report/3377

A Review of the CalSTRS Funding Plan: Background

Feb 2, 2016 - CalSTRS members mainly work at school and community college districts. In this series, we refer to CalSTRS members as “teachers ” for simplicity. Full Funding a Key Goal of Pension Policy. A pension system is fully funded when assets are sufficient to cover benefits already earned by employees and retirees.
https://lao.ca.gov/Publications/Report/3332

A Review of the CalSTRS Funding Plan: State’s Future Responsibility for CalSTRS Uncertain

Feb 2, 2016 - In other scenarios, investments underperform assumptions and the state ’s share of the unfunded liability —along with its funding plan contribution rate —increases steadily each year. In these scenarios, state contributions reach about 18 percent of payroll by the mid-2040s.
https://lao.ca.gov/Publications/Report/3336

A Review of the CalSTRS Funding Plan: Treatment of Teacher Contributions Also Increase District Unfunded Liabilities

Feb 2, 2016 - Our third post explained how theoretical asset gains have increased the school and community college district share of CalSTRS’ unfunded liabilities. Below, we continue this discussion by describing how CalSTRS’ treatment of teacher contributions has also increased the district share.
https://lao.ca.gov/Publications/Report/3335

A Review of the CalSTRS Funding Plan: Conclusion

Feb 2, 2016 - Meanwhile, that calculation, coupled with CalSTRS ’ treatment of the higher teacher contributions required by the funding law, have increased the school and community college district share from $47 billion to $58 billion.
https://lao.ca.gov/Publications/Report/3339

A Review of the CalSTRS Funding Plan: CalSTRS Funding Plan Relies on Abstract Calculation

Feb 2, 2016 - Because the outcome of this calculation lacks meaning (and will be even more subjective and strange years from now), in our view it would be deeply problematic to base CalSTRS funding on this alternative universe calculation for decades to come .
https://lao.ca.gov/Publications/Report/3333

A Review of the CalSTRS Funding Plan: Funding Plan May Not Meet Principle of “Shared Responsibility”

Feb 2, 2016 - Figure 1 Projected State Costs Now Much Lower Than in 2014 a (In Millions) $1,086 a Assumes state payroll growth of 3.75 percent each year. b Assumes CalSTRS investment returns equal 7.5 percent each year beginning in 2015-16.
https://lao.ca.gov/Publications/Report/3337

A Review of the CalSTRS Funding Plan: Theoretical Investment Gains Have Shifted Unfunded Liabilities to Districts

Feb 2, 2016 - We note that the calculation will become even more complex next year, as CalSTRS will begin to calculate the size of a second theoretical investment portfolio that will be factore d into the district share of the unfunded liability.
https://lao.ca.gov/Publications/Report/3334

A Review of the CalSTRS Funding Plan: Treatment of Teacher Contributions Also Increase District Unfunded Liabilities [Publication Details]

Feb 2, 2016 - This post is the fourth in a series looking at the implementation of the CalSTRS funding plan. Our third post explained how theoretical asset gains have increased the school and community college district share of CalSTRS’ unfunded liabilities. In this post, we continue this discussion by describing how CalSTRS’ treatment of teacher contributions has also increased the district share.
https://lao.ca.gov/Publications/Detail/3335

MOU Fiscal Analysis: Bargaining Unit 10 (Scientists)

Sep 9, 2015 - The administration estimates that allowing employees to cash out 60 additional hours in each of these years could increase the state ’s annual costs by more than $6 million (more than $1 million General Fund).
https://lao.ca.gov/Publications/Report/3297