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

Feb 2, 2016 - That is, the calculation reflects a fictional investment portfolio that has more assets than CalSTRS’ real world portfolio. This is important because when CalSTRS records investment gains in the real world, the calculation gives the state the benefit of additional, theoretical gains off the fictional portion of the investment portfolio.
https://lao.ca.gov/Publications/Report/3334

The 2020-21 Spending Plan: Labor and Employment Issues

Oct 5, 2020 - (Drivers who deliver food for app-based delivery services are eligible.) Other employees would be eligible for the state supplemental two week paid sick leave program if they are: (1)  healthcare workers, (2)  emergency responders and public safety personnel, and (3)  employees of businesses with more than 500 employees nationwide.
https://lao.ca.gov/Publications/Report/4274

A Review of the CalSTRS Funding Plan: State’s Future Responsibility for CalSTRS Uncertain

Feb 2, 2016 - In our third post , we showed how the funding plan’s key calculation gives the state the benefit of theoretical investment gains that do not exist in the real world. For example, if CalSTRS’ real world portfolio grows by $10 billion, the calculation gives the state the benefit of a roughly $12 billion gain.
https://lao.ca.gov/Publications/Report/3336

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

Jun 27, 2025 - A future Legislature and Governor could face pressure to use money from the trust fund as soon as it becomes available, e specially to address a budget problem, should one exist in 2046. To the extent that money is drawn from the fund before the benefit is fully funded, the likelihood of the benefit ever becoming fully funded will further diminish.
https://lao.ca.gov/Publications/Report/5060

Savings Plus Program: An Optional Retirement Benefit for State Employees

Mar 14, 2017 - The state currently does not contribute money to employees ’ SPP accounts —either in the form of a match or otherwise. Employees who choose to participate in the program determine (1)  how much money to save, (2)  how to invest the money they have saved, and (3)  how to use these funds in retirement.
https://lao.ca.gov/Publications/Report/3616

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

Jun 23, 2025 - Since 2006, inflation has eroded the average Unit 6 base pay such that the average real monthly base pay in 2024 was almost 11 percent lower than it was in 2006. However, average real base pay remains 6 percent higher than it was in 2003 when the state last experienced significant challenges recruiting correctional officers.
https://lao.ca.gov/Publications/Report/5058

Federal Paid Leave for Workers Impacted by COVID-19

Mar 27, 2020 - As a result, some California workers, including those who work for app-based companies, may be employees under California law but independent contractors under federal law. These workers likely are not eligible to receive employer-paid federal leave benefits under H.R.  6201.
https://lao.ca.gov/Publications/Report/4212

CalSTRS Funding: An Update

May 5, 2017 - For example, if CalSTRS ’ real world portfolio grows by $10  billion, the calculation gives the state the benefit of a roughly $11  billion gain. Of course, the opposite is true as well. When CalSTRS records an investment loss —as they did in 2015 ‑ 16 —the loss to the theoretical investment portfolio is larger than the real world loss, making the state share of
https://lao.ca.gov/Publications/Report/3662

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

Sep 7, 2023 - Since 2006, inflation has eroded the average Unit 6 base pay such that real base pay in 2022 was almost 9 percent lower than it was in 2006. However, average real base pay remains more than 7 percent higher than it was in the early 2000s when the state last experienced significant challenges recruiting correctional officers.
https://lao.ca.gov/Publications/Report/4800

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

May 16, 2017 - Contribute Money to CalPERS Over Course of 2017-18. The administration proposes depositing the borrowed money with CalPERS on a periodic basis throughout the 2017-18 fiscal year to accommodate cash flow needs.
https://lao.ca.gov/Publications/Report/3673