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

Jul 14, 2025 - As of June 30, 2023, the state and Unit 16 have set aside $78 million to prefund the benefit and the unfunded liability associated with Unit 16 is $365 million. The most recent actuarial valuation of Unit 16 retiree health benefits (as of June 30, 2023) estimates that the Unit 16 funding plan is now on track to fully fund Unit 16 retiree health benefits by 2042.
https://lao.ca.gov/Publications/Report/5064

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