Savings Plus Program: An Optional Retirement Benefit for State Employees

Mar 14, 2017 - This report reviews SPP and is organized into three broad sections. Background on the SPP Program and Employee Participation. We find that although nearly three ‑fifths of eligible state employees have an SPP account, only about one ‑third of state employees regularly make contributions to their SPP account and that most regular contributions are low.
https://lao.ca.gov/Publications/Report/3616

MOU Fiscal Analysis: Bargaining Unit 5 (Highway Patrol)

Aug 23, 2024 - As mentioned earlier, an SPP is when an employer contributes more than is actuarially required towards a pension plan. An SPP directly reduces existing unfunded liabilities of a pension plan. This, in turn, reduces the employer ’s costs towards the plan over decades in the form of lower contribution rates.
https://lao.ca.gov/Publications/Report/4920