The 2017-18 Budget: Governor’s CalPERS Borrowing Proposal

May 16, 2017 - The state sought a court ruling validating the legality of the proposed pension obligation bond. The courts ruled against the state, concluding the proposed pension obligation bonds violated the constitutional debt limit.
https://lao.ca.gov/Publications/Report/3673

MOU Fiscal Analysis: Bargaining Units 1, 3, 4, 11, 12, 13, 14, 15, 17, 18, 19, 20, and 21

Jan 10, 2017 - The Pension Reform Act of 2013 (PEPRA) created a standard that all state employees pay one-half of normal costs for their pension benefits. Today, the contributions paid by most state employees meet this standard.
https://lao.ca.gov/Publications/Report/3520

Savings Plus Program: An Optional Retirement Benefit for State Employees

Mar 14, 2017 - To the extent that the state shifts higher pension costs onto state employees, employees likely will save less money in SPP. Certain Factors Affect Employee Retirement Security Provided by Pension. A number of factors affect how much of final salary is replaced by the state ’s defined benefit pension to retired state employees.
https://lao.ca.gov/Publications/Report/3616

MOU Fiscal Analysis: Bargaining Unit 18

Aug 12, 2022 - The agreement specifies that, at the state ’s discretion, unused VPLP credits can be cashed out. Make Night Shift Pay Differentiable Included in Calculation of Pension Benefit. Under the current agreement, pay differentials received for working night shifts are not included when calculating employee pension benefits.
https://lao.ca.gov/Publications/Report/4617

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

Sep 6, 2019 - This pay differential is considered pensionable compensation. The administration estimates this will increase state costs in 2019 ‑20 by $800,000 ($90,000 from the General Fund) and annual state costs by about $1  million in subsequent years.
https://lao.ca.gov/Publications/Report/4094

MOU Fiscal Analysis: Bargaining Unit 18 (Psychiatric Technicians)

Jan 9, 2020 - For both pensions and retiree health benefits, the state ’s policy generally is that employees and the state each contribute one-half of the normal cost to prefund the benefit and the state takes full responsibility of any unfunded liabilities.
https://lao.ca.gov/Publications/Report/4134

The 2014-15 Budget: State Worker Salary, Health Benefit, and Pension Costs - The 2014-15 Budget: State Worker Salary, Health Benefit, and Pension Costs [Video]

The 2014-15 Budget: State Worker Salary, Health Benefit, and Pension Costs - The 2014-15 Budget: State Worker Salary, Health Benefit, and Pension Costs [Video] To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video The 2014-15 Budget: State Worker Salary,
https://lao.ca.gov/Videos/Player?playlistId=70

The 2014-15 Budget: State Worker Salary, Health Benefit, and Pension Costs [Publication Details]

Mar 4, 2014 - The increased costs reflect pay increases for most state workers, rising health and pension benefit costs, and a net increase in the number of state workers. In this report, we provide an overview of the state workforce, current collective bargaining agreements, and state employee compensation costs in 2014-15.
https://lao.ca.gov/Publications/Detail/2958

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

May 30, 2018 - Rising Pension Costs Contribution Rates Expected to Grow. In recent years, CalPERS has changed a number of actuarial assumption it uses to determine employer contributions to the pension system. These assumption changes combined with investment losses have resulted in the state ’s contribution rate for employee pension benefits to increase significantly over the past decade.
https://lao.ca.gov/Publications/Report/3847

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