The 2020-21 Budget: Proposition 2 Debt Payment Proposals

Mar 10, 2020 - Conclusion In a report to the Legislature last year — The 2019‑20 Budget: Structuring the Budget: Reserves, Debt and Liabilities— we analyzed the Governor’s proposals to make several large supplemental pension payments.
https://lao.ca.gov/Publications/Report/4196

The 2020-21 Budget: Initial Comments on the Governor’s May Revision

May 17, 2020 - Governor Also Proposes Supplanting Pension Payments for Schools and Community Colleges. The 2019 ‑ 20 b udget included two supplemental pension payments —one to the California State Teachers ’ Retirement System (CalSTRS) and one to the California Public Employees Retirement System (CalPERS) —that would reduce district pension contribution rates over the next few decades.
https://lao.ca.gov/Publications/Report/4232

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

Feb 2, 2016 - Specifically, the calculation estimates what CalSTRS’ unfunded liabilities would be now if (1) teachers earned less generous pension benefits and (2) the state and teachers had contributed more to CalSTRS’ main pension fund.
https://lao.ca.gov/Publications/Report/3334

State Correctional Spending Increased Despite Significant Population Reductions

Feb 4, 2020 - Increased Pension Benefit Costs. One of the primary elements of employee compensation that has increased CDCR costs over the past decade is rising pension contribution rates. For example, the state ’s contributions to pensions for CDCR ’s correctional staff have grown from 29  p ercent of pay in 2010 ‑ 11 t o 49  p ercent of pay in 2019 ‑20.
https://lao.ca.gov/Publications/Report/4145

The 2020-21 Budget: Overview of the California Spending Plan (Final Version)

Oct 5, 2020 - Shift Pension Costs. The budget takes actions in a few pension ‑related areas that result in cost shifts from the present to the future. First, the 2019 ‑ 20 b udget made a supplemental pension payment of $2. 5  b illion to CalPERS.
https://lao.ca.gov/Publications/Report/4263

MOU Fiscal Analysis: Bargaining Unit 13 (Stationary Engineers)

Aug 26, 2019 - Pension Increases Employee Contributions to Pension Benefits. The agreement would require employees to contribute an additional 0.5  percent of pay towards their pension benefits beginning in 2022 ‑23.
https://lao.ca.gov/Publications/Report/4090

The 2024-25 Budget: State Employee Compensation

Mar 21, 2024 - Introduction In this analysis, we provide the Legislature our key questions and recommendations related to the administration ’s proposed budgetary changes for state employee compensation. (For our analysis of issues related to pension payments under Proposition  2 [2014], see our report The 2024‑25 Budget: Proposition 2 Debt Payment Proposals .)
https://lao.ca.gov/Publications/Report/4888

2003 Initiative Analysis: State Teachers' Retirement System

Current pensions are maintained at 80  percent purchasing power protection. Salary for Calculating Pension. The measure changes the salary used to calculate pension benefits to the one-year period with the highest pay.
https://lao.ca.gov/ballot/2003/031078.htm

1st Quarter 2021 Personal Income Report [EconTax Blog]

Jun 28, 2021 - Benefits include employer-paid contributions for health insurance and pensions. Transfer payments are defined as government payments that don ’t represent compensation for services performed by the recipient.
https://lao.ca.gov/LAOEconTax/Article/Detail/671

^[PDF] Pension benefit calculations for some public university employees.

The measure may require the California Public Employees’ Retirement System to adjust how it calculates “final compensation in the determination of any pension or benefit” for most employees of the California State University and perhaps some employees of the University of California.
https://lao.ca.gov/ballot/2015/150321.pdf