MOU Fiscal Analysis: Bargaining Unit 12 (Craft and Maintenance)

Sep 1, 2023 - The state ’s contribution would be adjusted to reflect changes in premiums in January of 2024, 2025, and 2026. Reduced Employee Pension Contributions to Align With PEPRA Standard. The Public Employees ’ Pension Reform Act (PEPRA) established a standard, but not a requirement, that employees and the state each contribute one-half of the normal cost to fund employee pension benefits.
https://lao.ca.gov/Publications/Report/4798

MOU Fiscal Analysis: Bargaining Unit 5 (Highway Patrol)

Aug 26, 2019 - Chapter  33 of 2019 (SB  90, Committee on Budget and Fiscal Review) appropriated $265  million from the General Fund in 2020 ‑21 as a supplemental pension payment to state pension plans. The law specified that the money would be apportioned among the state employee pension plans in proportion to each plan ’s
https://lao.ca.gov/Publications/Report/4089

MOU Fiscal Analysis: Bargaining Units 1, 3, 4, 11, 14, 15, 17, 20, and 21 (SEIU Local 1000)

Sep 7, 2023 - The payment would be considered compensation for purposes of determining employees ’ pension benefits. New Alternate Range for Custodians at Health Care Facilities. Effective the first day of the pay period six months following ratification, the minimum and maximum salaries of a new alternate range for custodian classifications will be established that is 10  percent above
https://lao.ca.gov/Publications/Report/4799

A Review of the CalSTRS Funding Plan: Background

Feb 2, 2016 - Funding Plan a Major State Accomplishment. Prior to state action, CalSTRS faced a huge unfunded liability with no plan in place for funding teacher pensions. CalSTRS was expected to exhaust its assets in the mid-2040s, an alarming prospect for a pension system.
https://lao.ca.gov/Publications/Report/3332

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

Feb 2, 2016 - The calculation estimates what CalSTRS ’ funding situation would be today had the state made different decisions about teacher pensions in the past. Specifically, the calculation estimates what CalSTRS ’ unfunded liabilities would be if (1) the state never granted teachers more generous pensions in the late 1990s and (2)
https://lao.ca.gov/Publications/Report/3333

MOU Fiscal Analysis: Bargaining Unit 7 (Protective Services and Public Safety) [Publication Details]

Aug 8, 2019 - We reviewed the proposed memorandum of understanding (MOU) for Bargaining Unit 7 (Protective Services and Public Safety). Bargaining Unit 7 is represented by the California Statewide Law Enforcement Association (CSLEA). This review is pursuant to Section 19829.5 of the Government Code.
https://lao.ca.gov/Publications/Detail/4085

MOU Fiscal Analysis: Bargaining Unit 8 (Firefighters)

Jan 23, 2017 - We also noted in 2015 that higher pay increases of this type drive up state pension costs. As such, it will probably end up costing the state more—including pay and pension costs—to share retiree health costs with employees than it would have costed to pay for retiree health with just an employer contribution.
https://lao.ca.gov/Publications/Report/3534

Public Pension and Retiree Health Benefits: An Initial Response to the Governor's Proposal [Publication Details]

Nov 8, 2011 - 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.
https://lao.ca.gov/Publications/Detail/2537

CalSTRS Funding: An Update

May 5, 2017 - Generally, the calculation estimates what CalSTRS ’ unfunded liabilities would be if (1) the state had not granted teachers more generous pensions in the late 1990s and (2) state and teacher contributions to CalSTRS ’ main pension fund had not been decreased when CalSTRS was fully funded around 2000.
https://lao.ca.gov/Publications/Report/3662

MOU Fiscal Analysis: Bargaining Unit 9 (Professional Engineers)

Aug 28, 2018 - Under the Public Employees ’ Pension Reform Act of 2012, employees hired after 2013 receive a lower pension benefit. However, regardless of date of hire, Unit 9 members contribute the same percentage of pay to fund their pension benefit (this is true for most state employees).
https://lao.ca.gov/Publications/Report/3880