The 2018-19 Budget: Repaying the CalPERS Borrowing Plan

Apr 4, 2018 - Retirement Liabilities State Pensions Funded From Three Sources. The state provides pension benefits to retired state and California State University employees through the CalPERS pension system. CalPERS pensions are funded from three sources: investment gains, employer contributions, and employee contributions.
https://lao.ca.gov/Publications/Report/3797

The 2019-20 Budget: Undoing California’s Outstanding Budgetary Deferrals

Mar 26, 2019 - (For budgetary purposes, the state only recognized the deferral in the General Fund, not other funds ’ statements.) Pension Deferral. The state makes quarterly payments to the California Public Employees ’ Retirement System (CalPERS) for pension contributions for state employees.
https://lao.ca.gov/Publications/Report/3988

The 2019-20 Budget: Structuring the Budget: Reserves, Debt and Liabilities

Feb 5, 2019 - In this section, we discuss four major state retirement liabilities. State Employees ’ Pensions.  Depending on their job, state employees earn pension benefits under one of five state pension plans (Miscellaneous, Industrial, Safety, Peace Officer/Firefighter, and Highway Patrol) administered by the California Public Employees ’ Retirement System (CalPERS).
https://lao.ca.gov/Publications/Report/3925

The 2020-21 Budget: Proposition 2 Debt Payment Proposals [Publication Details]

Mar 10, 2020 - This represents a key and unique opportunity for the state. The Governor offers one strategy to prioritize these funds over the next few years. Notably, the Governor focuses on the state’s share of the unfunded liability for teachers’ pensions.
https://lao.ca.gov/Publications/Detail/4196

The 2025-26 Budget: California's Fiscal Outlook [Publication Details]

Nov 20, 2024 - Every year, our office publishes the Fiscal Outlook in anticipation of the upcoming budget season. This report gives the Legislature our independent estimates and analysis of the state’s budget condition with the goal of helping lawmakers prepare for the 2025-26 budget process. See our other Fiscal Outlook publications here.
https://lao.ca.gov/Publications/Detail/4939

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - We evaluate the budget condition based on current law and policy at both the state and federal level. This means we are assessing the state ’s spending and revenues assuming no new laws or policies are enacted.
https://lao.ca.gov/Publications/Report/4939

The 2019-20 Budget: Undoing California’s Outstanding Budgetary Deferrals [Publication Details]

Mar 26, 2019 - While the state has already addressed many of its outstanding deferrals, there are still three major categories of deferrals remaining. These are related to: (1) state employee payroll, (2) pension payments, and (3) Medi-Cal payments.
https://lao.ca.gov/Publications/Detail/3988

The 2019-20 Budget: California Spending Plan (Final Version)

Oct 17, 2019 - Teachers, administrators, and other certified employees of school districts earn pension benefits from the California State Teachers ’ Retirement System (CalSTRS). Other school district employees, such as clerical staff, also earn pension benefits administered by CalPERS.
https://lao.ca.gov/Publications/Report/4083

The 2022-23 Budget: California’s Fiscal Outlook

Nov 17, 2021 - Reflecting these return assumptions could result in substantially lower state costs, particularly for the teachers ’ pension system. The box nearby has more details on possible future developments in the state ’s pension systems.
https://lao.ca.gov/Publications/Report/4472

The 2022-23 Budget: Fiscal Outlook for Schools and Community Colleges

Nov 17, 2021 - Address Pension Liabilities and Costs. The state has a number of options for allocating funds that would improve the funding status of the pension systems and/or provide cost relief for districts. For example, the state could use one ‑time funds to pay down pension liabilities more quickly, which would also tend to lower district costs over the next several decades.
https://lao.ca.gov/Publications/Report/4473