Savings Plus Program: An Optional Retirement Benefit for State Employees

Mar 14, 2017 - In addition, these employees have no rights to the money they contributed to the retiree health trust fund over the course of their state career —potentially tens of thousands of dollars —or any of the earnings gained on these contributions.
https://lao.ca.gov/Publications/Report/3616

The 2025-26 Budget: Concession Bargaining

May 19, 2025 - The California Public Employees ’ Retirement System (CalPERS) determines how much money must be contributed each year to fund the pension benefit. There are two components of the total contribution to CalPERS.
https://lao.ca.gov/Publications/Report/5047

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

May 16, 2017 - The administration could be required to provide (1) its best estimates of how much money special funds will need to borrow from the General Fund to make their payments, by year, and how their repayments to the General Fund will be structured, and/or (2) specific plans to change each affected special fund ’s revenues or spending to cover these shortfalls.
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 - In addition to the discount rate, CalPERS includes many other actuarial assumptions in its calculations to determine the state ’s costs, including assumptions about how quickly payroll grows. Payroll is affected by (1) the number of people employed by the state and (2) the amount of money these employees earn.
https://lao.ca.gov/Publications/Report/3520

MOU Fiscal Analysis: Bargaining Unit 8 (Firefighters)

Jan 23, 2017 - In addition to the discount rate, CalPERS includes many other actuarial assumptions in its calculations to determine the state ’s costs, including assumptions about how quickly payroll grows. Payroll is affected by (1) the number of people employed by the state and (2) the amount of money these employees earn.
https://lao.ca.gov/Publications/Report/3534

MOU Fiscal Analysis: Bargaining Unit 6

Jun 14, 2019 - Part of the state ’s contribution goes towards the “normal cost ” —the amount of money that actuaries determine is necessary (combined with assumed future investment earnings) to pay the cost of pension benefits that employees earn in a given year.
https://lao.ca.gov/Publications/Report/4078

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

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

May 30, 2018 - CalPERS includes a variety of actuarial assumptions in its calculation to determine the state ’s costs, including assumptions about how quickly payroll grows. Payroll is affected by (1)  the number of people employed by the state and (2)  the amount of money these employees earn.
https://lao.ca.gov/Publications/Report/3847

State Options to Expand Unemployment Benefits

Apr 9, 2020 - The amount of UI benefits a worker receives depends on how much they earned before their unemployment. Benefits are available for up to 26 weeks. To fund the benefits, employers pay a payroll tax on the first $7,000 of employee wages.
https://lao.ca.gov/Publications/Report/4219

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

Jun 27, 2025 - The state contributes a flat dollar amount to Unit 12 members ’ health benefits. The proposed agreement would adjust the amount of money the state pays towards these benefits to maintain a state contribution equivalent to the 80/80 formula, whereby the state pays an amount equal to 80  percent of the weighted average of the basic health plan premiums for the employee and any eligible dependents.
https://lao.ca.gov/Publications/Report/5060