Savings Plus Program: An Optional Retirement Benefit for State Employees

Mar 14, 2017 - However, we identify three groups of employees who could benefit most from putting aside money: shorter ‑term employees, who work less than a full career with the state; lower ‑paid employees, who might need money in addition to their pension to cover essential costs in retirement; and future employees, who will earn less generous retiree health and pension benefits.
https://lao.ca.gov/Publications/Report/3616

MOU Fiscal Analysis: Bargaining Unit 6

Jun 14, 2019 - The normal cost typically does not change from one year to another unless benefits change or the CalPERS board adopts new assumptions that materially affect the amount of money that must be set asi de to fund benefits earned today.
https://lao.ca.gov/Publications/Report/4078

The 2025-26 Budget: Concession Bargaining

May 19, 2025 - The first is payment towards the “normal cost, ” which is the amount of money that actuaries determine (based on actuarial assumptions like expected investment returns on assets) must be contributed to prefund the benefit earned by employees today.
https://lao.ca.gov/Publications/Report/5047

MOU Fiscal Analysis: Bargaining Unit 9 (Professional Engineers)

Jun 27, 2025 - Under current state policy, state departments that allow state employees to work a hybrid schedule (meaning a portion of the work week in office and a portion of the work week from a remote location) must have a telework policy with a default minimum of two in-person days per work week.
https://lao.ca.gov/Publications/Report/5061

MOU Fiscal Analysis: Bargaining Unit 5 (Highway Patrol)

Aug 23, 2024 - A pension system matures as the share of people receiving benefits (retirees and their beneficiaries) grows relative to the share of active members who are working and contributing to the system. As a pension system matures, its cash flow changes from a positive cash flow (more money coming into the system than is being paid out to beneficiaries)
https://lao.ca.gov/Publications/Report/4920

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

Sep 7, 2023 - The normal cost is the amount of money that actuaries determine must be set aside for the benefit employees earn today so that the contribution and any future investment returns on that contribution are sufficient to pay for the benefit after the employee retires.
https://lao.ca.gov/Publications/Report/4800

COVID-19: Unemployment Insurance for Workers Impacted by COVID-19

Mar 23, 2020 - Subscribe | California State Legislature | Online Voter Registration | Privacy Policy | Accessibility Legislative Analyst's Office | The California Legislature's Nonpartisan Fiscal and Policy Advisor 925 L Street, Suite 1000 Sacramento, CA 95814 | (916) 445-4656
https://lao.ca.gov/Publications/Report/4208

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

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

May 16, 2017 - The roughly $70  billion in the PMIA includes money from the state ’s main operating account and hundreds of other funds (including special funds). Working capital needs for hundreds of separate state funds —needed to manage seasonal cash flows of each fund and pay state bills on time —always total in the tens of billions of dollars.
https://lao.ca.gov/Publications/Report/3673

MOU Fiscal Analysis: Bargaining Units 1, 3, 4, 11, 12, 13, 14, 15, 17, 18, 19, 20, and 21

Jan 10, 2017 - Because the state ’s retiree health benefit is the same for an employee earning $30,000 as it is for an employee earning $100,000, the amount of money needed to prefund the benefit represents a larger share of a lower-income worker ’s salary.
https://lao.ca.gov/Publications/Report/3520