Unfunded liabilities grow, system says. Billions more of annual funding eventually needed.

Apr 1, 2011 - Put another way, $1 contributed to CalSTRS today has 30 years to generate investment earnings before paying benefits to a community college instructor who retires in 2041. By contrast, $1 contributed to CalSTRS in 2016 for that same instructor has only 25 years to generate investment earnings before paying a benefit in 2041.
https://lao.ca.gov/Recommendations/Details/396

Unfunded liabilities grow, system says. Billions more of annual funding eventually needed.

Apr 1, 2011 - Put another way, $1 contributed to CalSTRS today has 30 years to generate investment earnings before paying benefits to a community college instructor who retires in 2041. By contrast, $1 contributed to CalSTRS in 2016 for that same instructor has only 25 years to generate investment earnings before paying a benefit in 2041.
https://lao.ca.gov/Recommendations/Details/395

MOU Fiscal Analysis Bargaining Units 9 and 10 [Publication Details]

Apr 1, 2011 - We reviewed the proposed Memorandum of Understanding (MOU) for Bargaining Unit 9 (Professional Engineers in California Government) and Unit 10 (California Association of Professional Scientists). If adopted, the MOUs would result in increased state costs in the current year, savings in 2011-12 and 2012-13, and net cost thereafter.
https://lao.ca.gov/Publications/Detail/2467

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

Mar 25, 2011 - We reviewed the proposed Memorandum of Understanding (MOU) for Bargaining Unit 7 (California Statewide Law Enforcement Association). If adopted, the MOU would result in increased state costs in the current year, savings in 2011-12, and net cost thereafter. Overall, the MOU would reduce state Bargaining Unit 7 employee compensation costs in 2011-12 by 2.8 percent.
https://lao.ca.gov/Publications/Detail/2463

Overview of School District Finance [Publication Details]

Mar 23, 2011 - Overview of School District Finance [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/2464

MOU Fiscal Analysis: Bargaining Unit 2 (Attorneys, Administrative Law Judges, and Hearing Officers) [Publication Details]

Mar 16, 2011 - We reviewed the proposed Memorandum of Understanding (MOU) for Bargaining Unit 2 (California Attorneys, Administrative Law Judges, and Hearing Officers in State Employment [CASE]). If adopted, the MOU would result in increased state costs in the current year, savings in 2011-12, and net cost thereafter.
https://lao.ca.gov/Publications/Detail/2461

Streamlining Nursing Education Pathways: A Progress Report On Assembly Bill 1295 (Fuller) [Publication Details]

Mar 15, 2011 - Streamlining Nursing Education Pathways: A Progress Report On Assembly Bill 1295 (Fuller) [Publication Details] Streamlining Nursing Education Pathways: A Progress Report On Assembly Bill 1295 (Fuller) Format: PDF Description: Chapter 283, Statutes of 2009 (AB 1295, Fuller), requires our office to report by March 15, 2011 on the progress of the California Community Colleges (CCC) and California
https://lao.ca.gov/Publications/Detail/2460

Big Three state taxes below projections in February

Mar 8, 2011 - (February is typically the third-highest month of the year —behind March and April —for PIT refunds.) In November 2009, the state increased PIT withholding rates by 10 percent, and the higher level of refunds surely is a function of taxpayers ’ being “over-withheld ” on their PIT liabilities during tax year 2010 —the first full tax year that accelerated withholding was in place.
https://lao.ca.gov/Recommendations/Details/394

System officials say budgeted 2011-12 state payment may be more than required by law

Mar 1, 2011 - In the final analysis, the system 's unfunded liabilities as of its June 30, 2009 valuation --$40.5 billion--will require far larger additional payments from the state, school districts, and/or teachers than those required by Section 22955(b) in 2011-12 and future years.
https://lao.ca.gov/Recommendations/Details/389

Updated revenue forecast due to prior incorrect allocation of sales tax receipts

Feb 22, 2011 - The downward adjustment would be roughly $300 million in 2010-11 and in each subsequent fiscal year. Subscribe | California State Legislature | Online Voter Registration | Privacy Policy | Accessibility Legislative Analyst's Office | The California Legislature's Nonpartisan Fiscal and Policy Advisor 925 L Street, Suite 1000 Sacramento, CA 95814 | (916) 445-4656
https://lao.ca.gov/Recommendations/Details/386