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

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

MOU Fiscal Analysis: Bargaining Unit 6

Jun 14, 2019 - CalPERS projects that the state ’s contribution rates to fund correctional officers ’ pensions will increase each year until 2023 ‑24, when it is expected that the state ’s contribution rate will exceed 52  percent of pay.
https://lao.ca.gov/Publications/Report/4078

MOU Fiscal Analysis: Bargaining Unit 10 (Professional Scientists)

Aug 28, 2018 - Unlike a Special Salary Adjustment that would adjust the salary range for affected classifications, this pay differential would not affect employees ’ pension benefits. Increased Employee Pension Contribution.
https://lao.ca.gov/Publications/Report/3881

Unit 2 (Attorneys) MOU Analysis

Sep 12, 2019 - This employee would contribute a total of 11.5  percent of pay towards the pension —about one-half of the blended normal cost for this pension benefit. (The other Unit 2 members already pay about one-half of normal cost.)
https://lao.ca.gov/Publications/Report/4095

MOU Fiscal Analysis: Bargaining Unit 7 (Protective Services and Public Safety)

Jun 24, 2016 - These salary increases also increase state costs for salary-driven benefits, including state contributions to employees ’ pension and Medicare benefits. Provide Classification-Specific Salary Increases.
https://lao.ca.gov/Publications/Report/3486

The 2020-21 Budget: Labor Agreements to Achieve Budgetary Savings

Sep 9, 2020 - Employee Pension Contributions. The MOU increases employee retirement contributions over three fiscal years beginning on July 1, 2020.The intention of the increases is that employees will be paying about one-half of normal cost for pension benefits at the end of the three-year period.
https://lao.ca.gov/Publications/Report/4267

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

Apr 4, 2016 - All of these salary increases also increase the state ’s costs associated with benefits that are paid as a percentage of salary —referred to as “salary-driven benefits. ” In 2016-17, salary-driven benefits for Unit 6 —pension and Medicare benefits —are expected to equal about 40  percent of salary.
https://lao.ca.gov/Publications/Report/3409

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

Sep 7, 2023 - We reviewed the proposed memorandum of understanding (MOU) for the nine bargaining units represented by Service Employees International Union, Local 1000. This review is pursuant to Section 19829.5 of the Government Code.
https://lao.ca.gov/Publications/Detail/4799

A Review of the CalSTRS Funding Plan: Treatment of Teacher Contributions Also Increase District Unfunded Liabilities

Feb 2, 2016 - When the Legislature passed the CalSTRS funding plan, administration documents characterized the cost sharing as follows: districts would pay $47 billion, the state would pay $20 billion, and teachers would pay $8 billion.
https://lao.ca.gov/Publications/Report/3335