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

The 2024-25 Budget: Overview of the Governor's Budget

Jan 13, 2024 - For example, major categories of cost shifts in the Governor’s budget include proposals to: defer one month of state employee payroll from June to July, which results in $1.6 billion in one‑time savings; redirect a $1.3 billion supplemental pension payment made under the requirements of Proposition 2 for actuarially required contributions to the California Public Employee Retirement System, and $1.2 billion in special fund loans.
https://lao.ca.gov/Publications/Report/4825

The 2019-20 Budget: California Spending Plan—Debt Liabilities

Oct 17, 2019 - Pensions. Between the two pension systems, the state ’s pension unfunded liabilities are estimated to total $93.1  billion ($59.7  billion at CalPERS for state employee pensions and $33.4  billion at CalSTRS for teachers ’ pensions).
https://lao.ca.gov/Publications/Report/4106

The 2018-19 Budget: Repaying the CalPERS Borrowing Plan

Apr 4, 2018 - Retirement Liabilities State Pensions Funded From Three Sources. The state provides pension benefits to retired state and California State University employees through the CalPERS pension system. CalPERS pensions are funded from three sources: investment gains, employer contributions, and employee contributions.
https://lao.ca.gov/Publications/Report/3797

The 2024-25 Budget: Deficit Update [Publication Details]

Feb 20, 2024 - This report provides an update on the size of the state deficit based on our recent revenue projections and provides options for the Legislature to address that larger deficit.
https://lao.ca.gov/Publications/Detail/4850

The 2024-25 Budget: Deficit Update

Feb 20, 2024 - For example, the administration frequently displayed “operating surpluses ” in its multiyear forecasts excluding this type of spending —implying that the administration understood that the state could not afford all of the commitments under its own projections, but the state could afford the ongoing budget.
https://lao.ca.gov/Publications/Report/4850

The 2020-21 Budget: Proposition 2 Debt Payment Proposals [Publication Details]

Mar 10, 2020 - This represents a key and unique opportunity for the state. The Governor offers one strategy to prioritize these funds over the next few years. Notably, the Governor focuses on the state’s share of the unfunded liability for teachers’ pensions.
https://lao.ca.gov/Publications/Detail/4196

The 2022-23 Budget: Overview of the Spending Plan

Oct 12, 2022 - (We treat funding increases for core operations, including pensions and other employee benefits, as maintaining current service levels rather than discretionary spending.) Additional Funding Increases for Undergraduate Enrollment Growth.  
https://lao.ca.gov/Publications/Report/4616

The 2019-20 Budget: Undoing California’s Outstanding Budgetary Deferrals [Publication Details]

Mar 26, 2019 - While the state has already addressed many of its outstanding deferrals, there are still three major categories of deferrals remaining. These are related to: (1) state employee payroll, (2) pension payments, and (3) Medi-Cal payments.
https://lao.ca.gov/Publications/Detail/3988