The 2020-21 Spending Plan: Labor and Employment Issues

Oct 5, 2020 - Penalties and settlement awards from PAGA lawsuits are distributed 75  percent to the LWDF and 25  percent to the plaintiffs. In recent years, PAGA proceeds flowing into the LWDF have exceeded expenditures from the fund.
https://lao.ca.gov/Publications/Report/4274

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

Feb 2, 2016 - Our third post explained how theoretical asset gains have increased the school and community college district share of CalSTRS’ unfunded liabilities. Below, we continue this discussion by describing how CalSTRS’ treatment of teacher contributions has also increased the district share.
https://lao.ca.gov/Publications/Report/3335

A Review of the CalSTRS Funding Plan: Conclusion

Feb 2, 2016 - Meanwhile, that calculation, coupled with CalSTRS ’ treatment of the higher teacher contributions required by the funding law, have increased the school and community college district share from $47 billion to $58 billion.
https://lao.ca.gov/Publications/Report/3339

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

Apr 4, 2016 - After 15 years of service, these workers would receive 50  percent of the revised maximum state contribution in retirement, with this amount growing each year until it reaches 100  percent of the revised maximum contribution if they retire after 25 or more years.
https://lao.ca.gov/Publications/Report/3409

A Review of the CalSTRS Funding Plan: Background

Feb 2, 2016 - CalSTRS members mainly work at school and community college districts. In this series, we refer to CalSTRS members as “teachers ” for simplicity. Full Funding a Key Goal of Pension Policy. A pension system is fully funded when assets are sufficient to cover benefits already earned by employees and retirees.
https://lao.ca.gov/Publications/Report/3332

Labor Agreements: Bargaining Units 1, 3, 4, 6, 9, 11, 14, 15, 17, 20, AND 21

Jun 25, 2020 - Labor Agreements: Bargaining Units 1, 3, 4, 6, 9, 11, 14, 15, 17, 20, AND 21 June 25, 2020 Labor Agreements: Bargaining Units 1, 3, 4, 6, 9, 11, 14, 15, 17, 20, and 21 The compromise budget package will be considered by the California State Senate on June 25, 2020 and by the California State Assembly on June 26, 2020.
https://lao.ca.gov/Publications/Report/4257

The 2015-16 Budget: Major Features of the Adopted Plan (Other Issues)

Jun 19, 2015 - Under these bills, the department will have five years to commit Proposition  1E funds and three additional years to spend the funds, after which time the authorization to use the funds will expire. Cap-and-Trade Additional Cap-and-Trade Expenditures Expected to Be Part of Future Legislation.
https://lao.ca.gov/Publications/Report/3278

CalSTRS Funding: An Update

May 5, 2017 - Under this policy, the state is assigned $15  billion of the $21  billion increase, with school and community college districts generally assigned responsibility for the remainder. The state is now responsible for $29  billion of the total unfunded liability, and is expected to be assigned another several billion dollars of unfunded liabilities next year.
https://lao.ca.gov/Publications/Report/3662

The 2023-24 Budget: California Spending Plan Series [Publication Details]

Oct 2, 2023 - Each year, our office publishes California Spending Plan, a series of publications that summarize the annual state budget. The final version of Overview of the California Spending Plan is presented here along with short online posts that focus on major areas and features of the 2023-24 budget package. As these posts become available, we will add them below.
https://lao.ca.gov/Publications/Detail/4835

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

May 16, 2017 - Figure  5 shows the administration ’s projections of future principal and interest payments until 2024-25. Administration Estimates the State Repayments Would Total Roughly $7  Billion. Under the administration ’s current projection of interest costs, total loan repayments —principal and interest payments —would be roughly $7  billion.
https://lao.ca.gov/Publications/Report/3673