The 2018-19 Budget: Statewide Prison to Employment Initiative [Publication Details]

Mar 12, 2018 - This post addresses the Governor’s 2018‑19 budget proposal to provide $36 million General Fund over two years for local workforce development boards to fund employment training opportunities for at least 1,000 ex‑offenders and to integrate local employment training with programs offered by parole and probation departments.
https://lao.ca.gov/Publications/Detail/3781

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

The 2017-18 Budget: Governor’s CalPERS Borrowing Proposal [Publication Details]

May 16, 2017 - The Governor proposes that the state and General Fund and special funds repay this loan with interest over a period of about eight years. As we discuss in this brief, we think the plan would probably save the state money over the long run, although uncertainties remain about the likelihood and magnitude of this benefit.
https://lao.ca.gov/Publications/Detail/3673

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

CalSTRS Funding: An Update [Publication Details]

May 5, 2017 - The CalSTRS board recently acted to change assumptions used to estimate its unfunded liabilities, including the key assumption about future investment returns--sometimes referred to as the "discount rate." These and other recent developments have eroded CalSTRS' funding situation.
https://lao.ca.gov/Publications/Detail/3662

MOU Fiscal Analysis: Bargaining Unit 16 (Physicians)

Mar 14, 2017 - Most state employees receive 50  percent of the maximum contribution from the state if they retire with 10 years of service, with this amount growing each year until it reaches 100  percent of the maximum contribution if they retire after 20 or more years.
https://lao.ca.gov/Publications/Report/3617

Savings Plus Program: An Optional Retirement Benefit for State Employees

Mar 14, 2017 - The median 401(k) account balance of SPP participants between the ages of 56  years and 65  years is $25, 000 —one ‑quarter of the amount reported nationally. (The median 457[b] account balance for this same cohort of participants is slightly higher at $28,000.)
https://lao.ca.gov/Publications/Report/3616

The 2017-18 Budget: Funding Public Works Labor Enforcement

Mar 3, 2017 - The Governor proposes a few actions to address the funding shortfall in the SPWEF in 2017 ‑18 and later years. First, the Governor proposes to provide funding to DLSE on a two-year limited-term basis for six positions to conduct outreach with awarding bodies to improve their awareness of their responsibility to ensure that contractors have complied with this requirement, with the intent of increasing compliance and fee revenue over time.
https://lao.ca.gov/Publications/Report/3603

The 2017-18 Budget: Increased Staffing for Labor Standards Enforcement

Mar 3, 2017 - Targeting of BOFE Inspections Appears to Have Significantly Improved in Recent Years. Our review of legislatively required reports for 2009 ‑10 through 2013 ‑14 (the most recent year for which a report has been submitted) indicates that the targeting of BOFE inspections significantly improved over this period.
https://lao.ca.gov/Publications/Report/3602

The 2017-18 Budget: Increased Staffing for Labor Standards Enforcement [Publication Details]

Mar 3, 2017 - The Governor’s budget proposes $11 million in special funds and 82.5 positions, phased in over three years, for the Division of Labor Standards Enforcement to pursue additional investigations of labor standards violations.
https://lao.ca.gov/Publications/Detail/3602