MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

Sep 7, 2023 - Unit  6 Employees Hired After 2013 Receive Pension Based on “2.5  Percent at 57 ” Formula. Under PEPRA, employees hired after 2013 receive a lower pension benefit that require employees to work additional years in order to maintain the same level of benefit as employees who were hired before 2013.
https://lao.ca.gov/Publications/Report/4800

A Review of the CalSTRS Funding Plan: Background

Feb 2, 2016 - As of the most recent estimates, CalSTRS would need an additional $72.7 billion in its investment fund to pay for teacher pension benefits earned as of the end of 2013-1 4. This shortfall is referred to as an unfunded liability.
https://lao.ca.gov/Publications/Report/3332

MOU Fiscal Analysis: Bargaining Units 10 (Professional Scientists) and 18 (Psychiatric Technician)

Sep 9, 2025 - The Public Employees ’ Pension Reform Act of 2013 established a standard that state employees contribute one-half of the normal cost to prefund pension benefits. The actual contribution rates paid by employees is established through the bargaining process.
https://lao.ca.gov/Publications/Report/5073

A Review of the CalSTRS Funding Plan: Theoretical Investment Gains Have Shifted Unfunded Liabilities to Districts

Feb 2, 2016 - The decrease in the state share of the unfunded liability is mostly explained by the superior investment return in 2013-14. Because the state benefits from theoretical investment gains on fictional assets, the large 2013-14 return decreased the state ’s share of the unfunded liability by more than the amount by which the unfunded liability decreased in the real world.
https://lao.ca.gov/Publications/Report/3334

Revisiting the Unemployment Insurance Trust Fund Insolvency

Sep 30, 2016 - Figure 1 Average Unemployment Insurance (UI) Benefits Received and State UI Tax Contributions Paid by Industry As Percent of Taxable Wages, 2013-14 Industry
https://lao.ca.gov/Publications/Report/3503/1

After Furloughs: State Workers' Leave Balances - After Furloughs: State Workers' Leave Balances [Video]

After Furloughs: State Workers' Leave Balances - After Furloughs: State Workers' Leave Balances [Video] To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video After Furloughs: State Workers ' Leave Balances March 14, 2013 Over the past five budget years, furloughs reduced state employee compensation costs by about $5 billion in exchange for giving state employees additional time off.
https://lao.ca.gov/Videos/Player?playlistId=83

The 2025-26 Budget: Concession Bargaining

May 19, 2025 - In 2013, under the Public Employees’ Pension Reform Act (PEPRA), the state established a standard that state employees would contribute one-half of the normal cost of pension benefits and adopted a new (lower) pension benefit for new state employees.
https://lao.ca.gov/Publications/Report/5047

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

Jun 27, 2025 - The state and Unit 12 agreed to this prefunding arrangement in 2017 with the fund expected to be fully funded for Unit 12 within 30 years (we note that the state and Unit 12 had agreed to some prefunding of this benefit in 2013, as described in the actuarial valuation as of June 30, 2016).
https://lao.ca.gov/Publications/Report/5060

Collective Bargaining: Assessing Proposed Employee Compensation Increases

Mar 20, 2020 - Unit 6 Last Unit 6 Compensation Study —From 2013 —Showed State Leads by 40  Percent in Compensation for Correctional Officers. The last compensation study for Unit 6 was conducted using data from 2013 (the report was produced in 2015).
https://lao.ca.gov/Publications/Report/4206

Strengthening the CalSTRS Funding Plan

Mar 10, 2021 - PEPRA of 2013 (Chapter 296 of 2012 [AB 340, Furutani]) made changes to pension benefits structures for public employees, including teachers. As a result, CalSTRS’ benefits for members hired prior to when PEPRA took effect (January 1, 2013) are different from benefits for those hired after PEPRA took effect (January 1, 2013 and later).
https://lao.ca.gov/Publications/Report/4400