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

Savings Plus Program: An Optional Retirement Benefit for State Employees

Mar 14, 2017 - To illustrate how different expense ratios can affect a person ’s savings, Figure  1 illustrates the effect of $10,000 invested to earn an average return of 5  percent each year over 25  years with (1)  an annual operating expense of 1  percent compared with (2)  an annual operating expense of 0.5  percent.
https://lao.ca.gov/Publications/Report/3616

A Review of the CalSTRS Funding Plan: Background

Feb 2, 2016 - That is, the assets held by the fund at any one time have been insufficient to cover benefits earned to that date. As of the most recent estimates, CalSTRS would need an additional $72.7 billion in its investment fund to pay for teacher pension benefits earned as of the end of 2013-1 4.
https://lao.ca.gov/Publications/Report/3332

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

May 16, 2017 - For example, the Legislature could direct the administration to make an additional, supplemental payment to CalPERS of this amount —but without any borrowing from the PMIA. 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/3673

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

A Review of the CalSTRS Funding Plan: CalSTRS Funding Plan Relies on Abstract Calculation

Feb 2, 2016 - 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/3333

A Review of the CalSTRS Funding Plan: Theoretical Investment Gains Have Shifted Unfunded Liabilities to Districts

Feb 2, 2016 - Specifically, the calculation estimates what CalSTRS’ unfunded liabilities would be now if (1) teachers earned less generous pension benefits and (2) the state and teachers had contributed more to CalSTRS’ main pension fund.
https://lao.ca.gov/Publications/Report/3334

The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - Revenues from investment returns vary significantly year to year depending on market performance; however, CalPERS assumes an annual return of 6.8  percent. Employee and Employer Contributions to “Normal Cost. ” The normal cost is the amount actuaries determine must be contributed to the system in a given year to fund the benefit earned by state employees in that year.
https://lao.ca.gov/Publications/Report/4887

State Options to Expand Unemployment Benefits

Apr 9, 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/4219

Federal Paid Leave for Workers Impacted by COVID-19

Mar 27, 2020 - Under paid family leave, most workers receive 60  percent of their normal weekly earnings. Third, workers who are themselves sick or quarantined may be eligible for state short-term disability insurance.
https://lao.ca.gov/Publications/Report/4212