A Review of the CalSTRS Funding Plan: State’s Future Responsibility for CalSTRS Uncertain

Feb 2, 2016 - Because theoretical assets that determine the state’s share of the unfunded liability fluctuate more than real world assets and because the state’s share of the unfunded liability ($15 billion) is much smaller than the district share ($58 billion), the state share will be relatively sensitive to changes in assets.
https://lao.ca.gov/Publications/Report/3336

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

May 16, 2017 - Fiscal Benefit to State Likely, but Uncertainties Remain Administration Anticipates Net Benefits of $11  Billion. The administration anticipates this proposal would have a net benefit to the state, over the long run, of $11  billion.
https://lao.ca.gov/Publications/Report/3673

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

Labor Agreements to Achieve Budgetary Savings

Jul 11, 2025 - Notwithstanding Section 19829.5, Section 11 of Chapter  25 provided legislative ratification of any labor agreement that (1)  was entered into by the state employer and a state bargaining unit between June 21, 2025 and June 30, 2025 and (2)  included savings measures to achieve budgeted reductions pursuant to Control Section 3.90 of the 2025-26 Budget Act.
https://lao.ca.gov/Publications/Report/5063

MOU Fiscal Analysis: Bargaining Unit 8 (Firefighters)

Aug 19, 2025 - In a March 11, 2024 letter in response to a request from the Legislative Committee of the State Association of County Retirement Systems, the actuarial panel provided insights into the cost considerations for DROPs.
https://lao.ca.gov/Publications/Report/5066

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

Jun 23, 2025 - In calendar year 2024, the average monthly vacancy rate across all CDCR facilities was 11  percent. The vacancy rate at each of the three eligible institutions was lower than this statewide average: 8.9  percent at R.J.
https://lao.ca.gov/Publications/Report/5058

The 2025-26 Budget: Concession Bargaining

May 19, 2025 - Reducing pension benefits for future hires, as was done in 2010-11 and under PEPRA, creates a significant long-term fiscal benefit to the state but has little short-term benefit. (However, increasing employees contributions towards those benefits does provide immediate state savings.)
https://lao.ca.gov/Publications/Report/5047

MOU Fiscal Analysis: Bargaining Unit 12 (Craft and Maintenance)

Sep 1, 2023 - Due to one-time costs associated with provisions of the agreement, 2025 ‑26 would be the highest cost year resulting from the agreement, increasing costs in that year by $152  million ($58  million from the General Fund).
https://lao.ca.gov/Publications/Report/4798

Refocusing the Workers’ Compensation Subsequent Injury Program

Jul 10, 2025 - The current liabilities figure likely sits closer to $11  billion or $12  billion. Over the next few years, this figure will rise as additional lifetime benefit claims make their way through the SIBTF claims process.
https://lao.ca.gov/Publications/Report/5062

MOU Fiscal Analysis: Bargaining Unit 16 (Physicians, Dentists, and Podiatrists)

Jul 14, 2025 - OPEB = Other Post ‑Employment Benefits and Local 1000 = Nine bargaining units represented by Service Employee International Union, Local 1000: Units 1, 3, 4, 11, 14, 15, 17, 20, and 21. Telework Stipend.
https://lao.ca.gov/Publications/Report/5064