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

May 16, 2017 - Although the state has not issued a RAN since 2014-15, RAN issuance occurred every year between the mid-1980s and 2014-15 (except 2000-01), in both good and bad budgetary situations. RANs are typically issued early in a fiscal year and are repaid prior to the end of the fiscal year of issuance.
https://lao.ca.gov/Publications/Report/3673

MOU Fiscal Analysis: Bargaining Unit 16 (Physicians, Dentists, and Podiatrists)

Jul 14, 2025 - (The General Fund share of these costs are paid from the state ’s required annual debt payments under Proposition  2 [2014].) The reduced amount of money invested in the trust fund will result in higher unfunded liabilities in the long-run.
https://lao.ca.gov/Publications/Report/5064

MOU Fiscal Analysis: Bargaining Units 10 (Professional Scientists) and 18 (Psychiatric Technician)

Sep 9, 2025 - (The General Fund share of these costs are paid from the state ’s required annual debt payments under Proposition  2 [2014].) In addition, all but the agreement with Unit 6 (Corrections) also suspend the employee contribution.
https://lao.ca.gov/Publications/Report/5073

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

Jun 27, 2025 - Figure 1 Administration ’s Estimated Fiscal Effect of Proposed Unit 12 Agreement (In Millions) Extension of Terms to Excluded Employees b ‑2.3 $18.4 $52.0 a State General Fund retiree health prefunding costs are paid using funds required to be expended under Proposition 2 (2014). b This is an indirect cost that would result from the agreement being ratified.
https://lao.ca.gov/Publications/Report/5060

MOU Fiscal Analysis: Bargaining Unit 10 (Professional Scientific)

Aug 14, 2024 - The disagreement resulted in CAPS union membership rejecting a 2014 tentative agreement negotiated with the Brown Administration after the Legislature had already ratified the agreement as part of the 2014-15 budget.
https://lao.ca.gov/Publications/Report/4918

The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - By 2014, actuaries projected Ca lSTRS ’ assets would be depleted within a few decades. The Legislature passed Chapter  46 of 2014 (A B  1469 , Bonta), establishing a funding plan with the aim of reversing that projection and fully eliminating the Defined Benefit Program ’s unfunded liabilities by 2046.
https://lao.ca.gov/Publications/Report/4887

MOU Analysis: Unit 10 (Professional Scientific)

Jan 30, 2023 - The disagreement resulted in CAPS union membership rejecting a 2014 tentative agreement negotiated with the Brown Administration—something that is incredibly rare in the collective bargaining process—after the Legislature had already ratified the agreement as part of the 2014-15 budget.
https://lao.ca.gov/Publications/Report/4665

A Review of the CalSTRS Funding Plan: Funding Plan May Not Meet Principle of “Shared Responsibility”

Feb 2, 2016 - Projected State Costs Much Lower Than in May 2014. Figure 1 compares CalSTRS ’ May 2014 projections of the state ’s funding plan contribution with CalSTRS ’ most recent projections. (We have updated the May 2014 projections to reflect the most recent teacher payroll data.)
https://lao.ca.gov/Publications/Report/3337

A Review of the CalSTRS Funding Plan: Background

Feb 2, 2016 - The Legislature held hearings in 2013 and 2014 that evaluated CalSTRS ’ and other options and examined the effects on stakeholders. The Governor ’s May 2014 revised budget proposed a plan to fully fund CalSTRS in about 30 years by increasing contributions from the state, districts, and teachers.
https://lao.ca.gov/Publications/Report/3332

The 2014-15 Budget: State Worker Salary, Health Benefit, and Pension Costs [Publication Details]

Mar 4, 2014 - The 2014-15 Budget: State Worker Salary, Health Benefit, and Pension Costs [Publication Details] Video Description: The Governor's budget proposes $24 billion to pay salary and benefit costs for state workers in 2014-15, up from an estimated $23.5 billion in the current year.
https://lao.ca.gov/Publications/Detail/2958