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

MOU Fiscal Analysis: Bargaining Unit 8 (Firefighters)

Jan 23, 2017 - Leave Cash Outs. Under the current Unit 8 memorandum of understanding (MOU), employees may not cash out any vacation or annual leave in a year unless they are separating from state service. To the extent authorized by department directors, the proposed agreement allows Unit 8 members to cash out up to 80 hours of vacation or annual leave each year.
https://lao.ca.gov/Publications/Report/3534

Savings Plus Program: An Optional Retirement Benefit for State Employees

Mar 14, 2017 - In the case of a loan, participants borrow money from their account and pay the money back —with interest —over time. (We discuss loans in greater detail later in this report.) While accessing this money before retirement can help participants address immediate cash needs, it also can significantly reduce their account ’s growth potential and, ultimately, the amount of money available to them in retirement.
https://lao.ca.gov/Publications/Report/3616

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

Jan 10, 2017 - By assuming less money comes into the system through investment gains, the state will be required to contribute more money to pay for higher normal costs and a larger unfunded liability. . . . Making Proposed Pay Increases More Costly . . .
https://lao.ca.gov/Publications/Report/3520

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

May 30, 2018 - This likely is an overestimate of the amount of leave that would be cashed out in September. (The administration indicates that any unspent money would revert to the General Fund.) However, it is important to note that the administration asserts that the Legislature would be rejecting the proposed agreement if it were to reduce or eliminate the requested funding for leave cash outs under Item 9800.
https://lao.ca.gov/Publications/Report/3847

MOU Fiscal Analysis: Bargaining Unit 9 (Professional Engineers)

Sep 4, 2015 - Greater Levels of Leave Cash Out. The agreement would increase the number of hours of vacation or annual leave that employees annually may cash out from 20 hours to 80 hours. The administration estimates that allowing employees to cash out 60 additional hours each year could increase the state ’s annual costs by more than $30 million ($1 million General Fund) for each of the three years of the agreement.
https://lao.ca.gov/Publications/Report/3296

MOU Fiscal Analysis: Bargaining Unit 2 (Attorneys and Hearing Officers)

Aug 29, 2016 - Increases Allowable Annual Cash Out of Vacation and Annual Leave. The current memorandum of understanding (MOU) permits Unit 2 members to cash out up to 20 hours of vacation or annual leave each year.
https://lao.ca.gov/Publications/Report/3495

MOU Fiscal Analysis: Bargaining Unit 6

Jun 14, 2019 - Leave Cash Out Cost Estimate Assumes All Employees Participate. A large portion —about 45  percent —of the costs the administration identifies in 2019 ‑20 are attributed to the provision of the agreement that would allow employees to cash out up to 80 hours of leave.
https://lao.ca.gov/Publications/Report/4078

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

Jun 27, 2025 - (Under the policy, the state continues to make pay-as-you-go payments for benefits received by retirees.) The money contributed by the state and employees to prefund the benefit is put in a trust fund.
https://lao.ca.gov/Publications/Report/5060

MOU Fiscal Analysis: Bargaining Unit 16 (Physicians)

Mar 14, 2017 - Leave Cash Outs. Under the current MOU, Unit  16 members may not cash out vacation or annual leave until they separate from state service. To the extent authorized by department directors, the agreement would allow Unit  16 members to cash out up to 80 hours of unused vacation or annual leave each year.
https://lao.ca.gov/Publications/Report/3617