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

Feb 2, 2016 - When investments underperform the 7.5 percent assumption, however, higher teacher contributions will be first used to cover the that year ’s shortfall with the remainder, if any, applied to the district share.
https://lao.ca.gov/Publications/Report/3335

A Review of the CalSTRS Funding Plan: Funding Plan May Not Meet Principle of “Shared Responsibility”

Feb 2, 2016 - Figure 1 Projected State Costs Now Much Lower Than in 2014 a (In Millions) $1,086 a Assumes state payroll growth of 3.75 percent each year. b Assumes CalSTRS investment returns equal 7.5 percent each year beginning in 2015-16.
https://lao.ca.gov/Publications/Report/3337

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

May 16, 2017 - For much of the late 1990s and 2000s, the yield averaged around 6  percent, although it fell after the dot-com bust and ensuing recession in the early 2000s. After the rate fell in 2008, it has remained near zero as inflation and U.S.
https://lao.ca.gov/Publications/Report/3673

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

Feb 2, 2016 - (CalSTRS ’ assumed rate of return is 7.5 percent.) As shown in the figure, the state share of CalSTRS ’ future unfunded liabilities is far more volatile than the district share. State ’s Future Responsibility for CalSTRS Relatively Uncertain.
https://lao.ca.gov/Publications/Report/3336

CalSTRS Funding: An Update

May 5, 2017 - In total, the investment return assumption was 7.5  percent for the 2014 ‑15 actuarial valuation. New Assumptions Increase Unfunded Liabilities by $7   Billion. At the February 2017 meeting, the board voted to reduce the inflation assumption to 2.75  percent.
https://lao.ca.gov/Publications/Report/3662

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

Sep 1, 2023 - The administration estimates that extending the economic provisions of the agreement to employees excluded from the collective bargaining process but associated with Unit 12 (primarily Unit 12 managers and supervisors) would increase state costs in 2023 ‑24 by $18.4  million ($7.5  million General Fund).
https://lao.ca.gov/Publications/Report/4798

The 2018-19 Budget: Meeting Workforce Demand for Certified Nursing Assistants in Skilled Nursing Facilities

Apr 27, 2018 - We estimate that these SNFs will need to hire between 1,700 and 2,400 additional CNAs to meet the requirement, increasing the total number of CNAs currently working in SNFs statewide by between 5  percent and 7.5  percent.
https://lao.ca.gov/Publications/Report/3815

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

Sep 9, 2020 - Major Provisions of Side Letter PLP 2020: 7.5  Percent Reduction in Pay. For the 12 months of 2020 ‑21, Unit 8 members will be subject to PLP 2020. In each of the 12 months of PLP 2020, Unit 8 members will receive a pay reduction of 7.5  percent.
https://lao.ca.gov/Publications/Report/4267

MOU Fiscal Analysis: Bargaining Unit 8 (Firefighters)

Jan 23, 2017 - Specifically, the board voted to lower the discount rate from 7.5  percent to 7.0  percent over the next three years. This lower discount rate means that CalPERS calculations of plan assets and liabilities will assume investments have lower returns.
https://lao.ca.gov/Publications/Report/3534

MOU Fiscal Analysis: Bargaining Units 1, 3, 4, 11, 12, 13, 14, 15, 17, 18, 19, 20, and 21

Jan 10, 2017 - Specifically, the board voted to lower the discount rate from 7.5  percent to 7.0  percent over the next three years. This lower discount rate means that CalPERS calculations of plan assets and liabilities will assume investments will have lower returns.
https://lao.ca.gov/Publications/Report/3520