CalSTRS Funding: An Update

May 5, 2017 - To the extent that teachers live longer than was expected during their careers, contributions made by them and their employers —combined with investment returns on those contributions —will be insufficient to pay for their pension benefits for the portion of their lives that extend beyond their assumed life expectancy.
https://lao.ca.gov/Publications/Report/3662

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

Sep 7, 2023 - The valuation does not provide separate normal costs for the benefit for employee hired before 2017 versus those hired after 2017; however, the normal cost for the benefit earned by new employees certainly is lower than the normal cost for the benefit earned by employees hired before 2017.
https://lao.ca.gov/Publications/Report/4800

Climate Change Impacts Across California - Crosscutting Issues

Apr 5, 2022 - As shown in Figure  6 , from 2017 ‑18 through 2019 ‑20, the state averaged more than 1,600 schools closed due to wildfires annually, compared to an annual average of about 70 schools from 2008‑09 to 2016‑17.
https://lao.ca.gov/Publications/Report/4575

MOU Fiscal Analysis: Bargaining Unit 5 (Highway Patrol)

Aug 23, 2024 - As a result, often, salaries are more competitive in regions with lower costs of living, whereas salaries in more expensive regions are less competitive. In contrast, Unit 5 receives salary increases based on labor market trends in counties with high costs of living despite roughly 70 percent of Unit 5 members working in counties that are not included in the survey.
https://lao.ca.gov/Publications/Report/4920

MOU Fiscal Analysis: Bargaining Unit 18 (Psychiatric Technicians)

Jan 9, 2020 - The normal cost is the amount of money that actuaries determine —based on assumptions about future investment returns and the number of years people will live in retirement —must be set aside to pay for the benefit that employees earn today but will not receive until they retire.
https://lao.ca.gov/Publications/Report/4134

MOU Fiscal Analysis: Bargaining Unit 13 (Stationary Engineers)

Aug 26, 2019 - In fact, the department includes its challenges in finding staff to maintain buildings —particularly in high cost of living regions of the state —as one of the reasons it is proposing to divest the state from a number of office buildings—particularly in high cost of living regions of the state.
https://lao.ca.gov/Publications/Report/4090

Savings Plus Program: An Optional Retirement Benefit for State Employees

Mar 14, 2017 - In 2017, both the employee and the state pay 6.2  percent of the employee ’s pay. Payroll taxes are not applied to earnings above a wage limit —$127,200 in 2017. When a worker retires, he or she receives monthly Social Security benefit payments based on how old they are when they begin receiving Social Security benefits and how much money they earned during their career (up to the wage limit mentioned above).
https://lao.ca.gov/Publications/Report/3616

MOU Fiscal Analysis: Bargaining Unit 7 (Protective Services and Public Safety)

Aug 8, 2019 - The cost of living in California varies significantly by region. Employees in the same occupation often earn higher levels of compensation in higher cost of living regions in the state. The state employs people in each county with about two-thirds of the state workforce in a county other than the County of Sacramento.
https://lao.ca.gov/Publications/Report/4085

MOU Fiscal Analysis: Bargaining Unit 6

Jun 14, 2019 - Last year, CalHR informed us that (1)  the administration and CCPOA met beginning August 2017 and reached a consensus on the study ’s methodology by mid-October 2017, (2)  the survey was mailed to six county employers in mid-October 2017, (3)  CalHR completed a draft compensation report by mid-February 2018, (4)  CalHR shared a draft report with
https://lao.ca.gov/Publications/Report/4078

MOU Fiscal Analysis: Bargaining Unit 9 (Professional Engineers)

Jun 27, 2025 - The largest factors driving these cost increases have been (1)  the rapid growth in health premiums and (2)  the growing number of people receiving the benefit as more employees retire and people live longer in retirement.
https://lao.ca.gov/Publications/Report/5061