The 2024-25 Budget: California's Fiscal Outlook

Dec 7, 2023 - These options, however, tend to be disruptive for school operations, particularly when the state announces them on short notice. In addition, the state ’s options for reductions in 2022 ‑23 are relatively limited because the state has allocated most of the funding attributable to the prior year already.
https://lao.ca.gov/Publications/Report/4819

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 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

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

Cal Facts: 2016

Dec 5, 2016 - These plans include paying down pension unfunded liabilities and making regularly scheduled payments on infrastructure bond debt service. Legislation passed in 2014 aims to fully fund the teacher pension system (CalSTRS).
https://lao.ca.gov/Publications/Report/3511/1

The 2024-25 Budget: Multiyear Budget Outlook

May 23, 2024 - The light green line shows the amount of revenue the state would need to “break even ” —that is, the level of revenue the state would need to be able to afford the level of spending proposed in the May Revision.
https://lao.ca.gov/Publications/Report/4907

The 2023-24 Budget: Multiyear Budget Outlook

May 23, 2023 - Remaining programs —including employee compensation, pensions, and higher education —are responsible for the remaining $4  billion in difference in that year. As we have commented in the past , our office has little insight into the components of, or assumptions underlying, the administration’s projections in HHS.
https://lao.ca.gov/Publications/Report/4772

The 2024-25 Budget: Initial Comments on the Governor’s May Revision

May 17, 2024 - The State Constitution ’s balanced budget provision prohibits the state from enacting a negative SFEU balance for the upcoming fiscal year, in this case, 2024-25. While historically the state mostly has enacted SFEU balances between $1  billion and $4  billion, the Legislature can choose to set the balance at any level above zero.
https://lao.ca.gov/Publications/Report/4902

The 2016-17 Budget: The Governor’s Proposition 2 Debt Proposal [Publication Details]

Feb 24, 2016 - It would also allow the state to begin addressing more of its retirement liabilities sooner. Our approach focuses on high-interest debts that the state is otherwise not addressing. Specifically, we suggest the Legislature prioritize: (1) the state’s pension system for judges and (2) retiree health benefits for state and California State University employees.
https://lao.ca.gov/Publications/Detail/3363