Federal Spending in California

Jan 18, 2017 - Wages, Salaries, and Benefits for Current and Former Federal Employees includes payments by the federal government to its current employees, including members of the armed services, and retirees, including veterans, and pensions for civilians.
https://lao.ca.gov/Publications/Report/3531/3

The 2020-21 Budget: Structuring the Budget

Feb 10, 2020 - The 2019 ‑ 20 b udget focused on paying down state debts —in particular, making supplemental pension payments —as a key tool to improving the budget ’s multiyear balance. These supplemental payments reduce the state ’s unfunded liabilities, thereby reducing future annual payments to the pension system and reducing costs over a few decades.
https://lao.ca.gov/Publications/Report/4150

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - Additionally, the state budget provides direct funding for increases in CSU ’s retiree health benefit costs and higher pension costs associated with CSU ’s 2013 –14 payroll level. CSU funds remaining pension cost increases (associated with compensation above the 2013 –14 payroll level) using unrestricted funds.
https://lao.ca.gov/Publications/Report/3487/5

Flexible Funding to California in the American Rescue Plan

Mar 23, 2021 - State and local governments have until December 31, 2024 to use the funds. Restrictions on Use of Funds. There are two restrictions on the use of the fiscal recovery funds. First, state and local governments are prohibited from using the funds to make supplemental pension payments.
https://lao.ca.gov/Publications/Report/4407

The 2023-24 Budget: California's Fiscal Outlook

Nov 16, 2022 - The net effect of these assumptions is that the outlook assumes that state pension contribution rates are significantly higher than the projected rates published in CalPERS ’ most recent actuarial valuation.
https://lao.ca.gov/Publications/Report/4646

The 2017-18 Budget: Alternatives to the Governor’s Proposition 2 Proposals

Feb 23, 2017 - These include certain budgetary liabilities (amounts the state owes schools and amounts the state ’s General Fund owes other state funds), unfunded liabilities for pensions, and prefunding for retiree health benefits.
https://lao.ca.gov/Publications/Report/3574

Long-term Capacity for Debt Payments Under Proposition 2

Dec 21, 2017 - The Fiscal Outlook considers potential future requirements under Proposition 2 (2014)—including required rainy day fund deposits and payments toward certain state debts. Some have asked whether Proposition 2 debt funding payments can be used to reduce liabilities of teacher and other public employees' pension plans.
https://lao.ca.gov/Publications/Report/3727

The 2017-18 Budget: California Spending Plan

Oct 18, 2017 - This should reduce annual state pension costs. To make this payment, the budget uses a loan from the state ’s cash balances in the Pooled Money Investment Account (PMIA), which is essentially the state ’s checking account.
https://lao.ca.gov/Publications/Report/3694/1

The 2018-19 Budget: Repaying the CalPERS Borrowing Plan [Publication Details]

Apr 4, 2018 - All funds that make pension payments will repay the loan over the next decade or so. Authorizing legislation gives the administration some discretion over how funds will repay the loan, but the statute includes a variety of repayment requirements.
https://lao.ca.gov/Publications/Detail/3797

The State Appropriations Limit

Apr 21, 2021 - The Constitution defines this exclusion as: “appropriations required to pay the cost of interest and redemption charges ... on indebtedness existing or legally authorized as of January 1, 1979, or on bonded indebtedness thereafter approved according to law by a vote of the electors... ” In implementing legislation, the Legislature chose not to include some outstanding debt that existed in 1979 —such as unfunded pension liabilities —as an exemption under  this  language.
https://lao.ca.gov/Publications/Report/4416