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

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

Feb 2, 2016 - In general, the state will pay for these smaller theoretical unfunded liabilities —as determined by the calculation —while districts will pay the difference between total real world unfunded liabilities and the state ’s share.
https://lao.ca.gov/Publications/Report/3333

The 2026-27 Budget: Child Care and State Preschool

Mar 19, 2026 - Three ‑ and four ‑year old children are generally eligible for State Preschool if their family earns at or below the state median income ($109,904 annual income for a family of three and $127,338 annual income for a family of four).
https://lao.ca.gov/Publications/Report/5168

The 2026-27 Budget: Proposition 98 Guarantee and K-12 Spending Plan

Feb 4, 2026 - This approach would help protect district cash flow by reducing the state’s reliance on deferrals to manage future downturns. A third option is to provide additional funding for district pension costs.
https://lao.ca.gov/Publications/Report/5110

Volatility of the Personal Income Tax Base

Feb 8, 2017 - Imputed interest includes investment income earned on insurance policies, the value of implicit services provided by banks and other lenders, and interest earned on employee pension plans. Transfer Payments.
https://lao.ca.gov/Publications/Report/3548

CalSTRS Funding: An Update

May 5, 2017 - An unfunded liability exists when the amount of assets a pension program has is insufficient to cover projected liabilities for pension benefits earned to date. Figure  1 displays CalSTRS ’ historical “funded ratio ” —a ratio of assets to liabilities.
https://lao.ca.gov/Publications/Report/3662

The 2021-22 Spending Plan: Proposition 98 and K-12 Education

Oct 25, 2021 - Collecting data and conducting program evaluations. a The local match can be met either through cash contributions or through services or resources of comparable value, as determined by the California Department of Education.
https://lao.ca.gov/Publications/Report/4466

The 2024-25 Budget: The Governor’s Proposition 98 Funding Maneuver

Feb 15, 2024 - We  have described how the state ’s cash management system works in earlier publications, including: Managing California’s Cash and An Update on the State’s Cash Management Situation . Budget Position Is Currently Weak.
https://lao.ca.gov/Publications/Report/4840

The 2026-27 Budget: Fiscal Outlook for Schools and Community Colleges

Nov 19, 2025 - Whereas a deferral provides up ‑front state savings but creates future costs and weakens district cash flow, the advance payment is an up ‑front state cost that allows future savings and improves district cash flow.
https://lao.ca.gov/Publications/Report/5093

A Review of the CalSTRS Funding Plan: State’s Future Responsibility for CalSTRS Uncertain

Feb 2, 2016 - In our third post , we showed how the funding plan’s key calculation gives the state the benefit of theoretical investment gains that do not exist in the real world. For example, if CalSTRS’ real world portfolio grows by $10 billion, the calculation gives the state the benefit of a roughly $12 billion gain.
https://lao.ca.gov/Publications/Report/3336