The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - This is because the actuarial loss accrues “interest ” over time that also must be paid. This interest reflects the gains that otherwise would have accrued had there been no actuarial loss in the first place.
https://lao.ca.gov/Publications/Report/4887

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

May 16, 2017 - PMIA Is Managed by the State Treasurer and Governed by Board. The Investment Division of the State Treasurer ’s Office manages the PMIA and invests its money in safe instruments. The PMIA is governed by the Pooled Money Investment Board (PMIB), which includes the Treasurer, the Controller, and the Director of Finance.
https://lao.ca.gov/Publications/Report/3673

MOU Fiscal Analysis: Bargaining Unit 8 (Firefighters)

Aug 19, 2025 - While “side letters, ” “MOU addenda, ” and “MOUs ” are all rather amorphous terms, the Public Employment Relations Board (PERB) laid out its definition of a side letter in a 2011 PERB decision . In that decision, PERB defines a side letter to mean “an agreement between an employer and union that typically: (1) modifies, clarifies or interprets an existing provision in an MOU; or
https://lao.ca.gov/Publications/Report/5066

MOU Fiscal Analysis: Bargaining Unit 5 (Highway Patrol)

Aug 23, 2024 - This statutory comparison predates the state employee collective bargaining process established by the Ral ph C. Dills Act. (Prior to collective bargaining, the State Personnel Board [SPB] annually would recommend to the Legislature salary ranges for classifications.)
https://lao.ca.gov/Publications/Report/4920

The 2016-17 Budget: Public Employment Relations Board (PERB)

Mar 1, 2016 - Prior Legislative Interest in This Issue. While considering the 2015-16 state budget, members of the Legislature ’s budget committees expressed concerns regarding the backlog of cases at PERB and considered a proposal to augment PERB ’s budget by $1 million.
https://lao.ca.gov/Publications/report/3377

Revisiting the Unemployment Insurance Trust Fund Insolvency

Sep 30, 2016 - The federal UI tax, including any increases imposed in the event that the state has outstanding federal loans, is not experience-rated, meaning that the same tax rate is applied to all employers across the board.
https://lao.ca.gov/Publications/Report/3503/2

The 2022-23 Budget: UC Climate-Related Proposals

Feb 16, 2022 - Most notably, the California Air Resources Board oversees a “cap ‑and ‑trade ” program, which caps GHG emissions for the state ’s largest emitters (such as large industrial facilities and transportation fuel suppliers) and allows the affected industries to sell their emission allowances in the market.
https://lao.ca.gov/Publications/Report/4538

The 2018-19 Budget: Statewide Prison to Employment Initiative

Mar 12, 2018 - After reviewing the report on the ForwardFocus program, if the Legislature is interested in increasing funding for employment services for ex-offenders, rather than create a new program as the Governor proposes, we instead recommend that the Legislature augment the existing ForwardFocus grant program.
https://lao.ca.gov/Publications/Report/3781

The 2021-22 Budget: Interest Payment on Federal Unemployment Insurance Loan

Feb 10, 2021 - As a result, the state ’s interest payment for 2021 ‑22 will cover roughly 6 m onths of accrued interest (March   15 t hrough September 30), whereas the administration ’s interest payment estimate reflects 9 m onths of interest.
https://lao.ca.gov/Publications/Report/4360

CalSTRS Funding: An Update

May 5, 2017 - Each month, an individual with credit card debt incurs an interest charge. The cardholder ’s monthly payment typically must exceed the interest charge in order for the principal —or in the case of CalSTRS, the unfunded liability —to decrease.
https://lao.ca.gov/Publications/Report/3662