The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - Accordingly, the state annually makes supplemental pension payments from the General Fund towards the state ’s pension unfunded liabilities. Proposition 2 Proposition   2 Contains Annual Debt Payment Requirement.
https://lao.ca.gov/Publications/Report/4887

The 2024-25 Budget: Proposition 2 Debt Payment Proposals [Publication Details]

Mar 20, 2024 - This report evaluates the Governor’s Proposition 2-related debt and liabilities payment proposals.
https://lao.ca.gov/Publications/Detail/4887

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

Sep 7, 2023 - Under the Public Employees ’ Pension Reform Act of 2013 (PEPRA), the state has a standard that state employees pay one-half of the normal cost of their pension benefit and the state pays one-half of the normal cost.
https://lao.ca.gov/Publications/Report/4800

The 2020-21 Spending Plan: Pensions

Oct 12, 2020 - The 2020-21 Spending Plan: Pensions Pensions CalPERS Repurposes Prior-Year Supplemental Payment. The 2019 ‑20 budget plan included a $2.5  billion supplemental pension payment to the California Public Employees ’ Retirement System (CalPERS) to reduce the state ’s long-term unfunded liabilities.
https://lao.ca.gov/Publications/Report/4279

The 2020-21 Spending Plan: Pensions [Publication Details]

Oct 12, 2020 - The 2020-21 Spending Plan: Pensions [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/4279

Strengthening the CalSTRS Funding Plan [Publication Details]

Mar 10, 2021 - This report provides an overview of the 2014 California State Teachers’ Retirement System (CalSTRS) funding plan, and analyzes the various challenges and complexities of the plan that have come to light that may impede CalSTRS’ ability to successfully eliminate the system’s unfunded actuarial obligation (UAO) by 2046.
https://lao.ca.gov/Publications/Detail/4400

Strengthening the CalSTRS Funding Plan

Mar 10, 2021 - Appendix Glossary of Key Terms Related to Pension Funds Throughout this report, we refer to terms commonly used when describing pension funds. We define those key terms here, in reference to the California State Teachers ’ Retirement System (CalSTRS).
https://lao.ca.gov/Publications/Report/4400

MOU Fiscal Analysis: Bargaining Unit 19 (Health and Social Services/Professional)

Sep 1, 2023 - Other Major Provisions Reduced Employee Pension Contributions to Align With PEPRA Standard. The Public Employees ’ Pension Reform Act (PEPRA) established a standard, but not a requirement, that employees and the state each contribute one-half of the normal cost to fund employee pension benefits.
https://lao.ca.gov/Publications/Report/4797

MOU Fiscal Analysis: Bargaining Unit 16 (Physicians)

Sep 7, 2023 - The Public Employees ’ Pension Reform Act established a standard, but not a requirement, that employees and the state each contribute one-half of the normal cost to fund employee pension benefits. The actual rates paid by state employees varies and has been established through the collective bargaining process.
https://lao.ca.gov/Publications/Report/4801

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

Aug 8, 2019 - Fully offsetting the increased employee contributions —as this agreement provides —means that for every $1 the state ’s pension contributions are reduced, the state ’s payroll costs increase about $1.50.
https://lao.ca.gov/Publications/Report/4085