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 - In 2003, for example, the Legislature —without voter approval —authorized issuance of a type of pension obligation bond, to be sold to municipal bond investors to fund and refund certain state pension obligations.
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

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

Jun 23, 2025 - The agreement would provide a 3  percent GSI on July 1, 2025 and another 3  percent GSI on July 1, 2027. A GSI adjusts the entire salary range for each classification represented by a bargaining unit, meaning that the pay increase applies to all Unit 6 members.
https://lao.ca.gov/Publications/Report/5058

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

Jun 27, 2025 - During PLP 2025, Unit 12 members ’ pay would be reduced by 3  percent in exchange for five hours of PLP 2025 leave credit each month. After accounting for the 3  percent GSI provided by the agreement, the net effect of PLP 2025 would be to essentially hold employees ’ take-home pay flat relative to current levels.
https://lao.ca.gov/Publications/Report/5060

MOU Fiscal Analysis: Bargaining Unit 9 (Professional Engineers)

Jun 27, 2025 - As specified below, the agreement would provide all Unit 9 members pay increases on July 1, 2025 and on July 1, 2027. 2025-26: 3  Percent General Salary Increase (GSI). Effective July 1, 2025, the agreement would provide all state employees represented by Unit 9 a 3  percent pay increase.
https://lao.ca.gov/Publications/Report/5061

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

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

Sep 9, 2025 - The agreement would provide all Unit 18 members a 3  percent General Salary Increase (GSI) effective the first day of the pay period following ratification and an additional 3  percent GSI effective July 1, 2027.
https://lao.ca.gov/Publications/Report/5073

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

Jul 14, 2025 - Furloughs have been used in ten fiscal years since 1992 (1992-93, 1993-94, 2003-04, 2008-09 through 2012-13, 2020-21, and 2025-26). Typically, a furlough for state employees reduces state employee pay by 4.62  percent in exchange for one day (eight hours) off per month without affecting other elements of compensation (for example, pension and health benefits).
https://lao.ca.gov/Publications/Report/5064

MOU Fiscal Analysis: Bargaining Unit 8 (Firefighters)

Aug 19, 2025 - Furloughs have been used in ten fiscal years since 1992 (1992-93, 1993-94, 2003-04, 2008-09 through 2012-13, 2020-21, and 2025-26). Typically, a furlough for state employees reduces state employee pay by 4.62  percent in exchange for one day (eight hours) off per month without affecting other elements of compensation (for example, pension and health benefits).
https://lao.ca.gov/Publications/Report/5066