The 2024-25 Budget: The Governor’s Proposition 98 Funding Maneuver [Publication Details]

Feb 15, 2024 - In this brief, we evaluate the Governor’s novel proposal to allow schools to keep $8 billion of cash disbursements above the minimum requirement without recognizing the budgetary impact of those payments.
https://lao.ca.gov/Publications/Detail/4840

Districts' Pension Contribution Rates and Amounts [EdBudget]

Jan 27, 2022 - Districts' Pension Contribution Rates and Amounts [EdBudget]     a Rate projections for 2022-23 through 2024-25 are current budgeting estimates from CalSTRS and CalPERS and take into account 2020-21 investment returns.
https://lao.ca.gov/Education/EdBudget/Details/596

The 2023-24 California Spending Plan: Other Provisions

Nov 8, 2023 - We estimate that the state ’s total contributions towards employee health premiums in 2023-24 is about $3  billion. Pension. The state pays a percentage of state employee salaries to fund pension benefits.
https://lao.ca.gov/Publications/Report/4814

The 2022-23 Budget: Fiscal Outlook for Schools and Community Colleges

Nov 17, 2021 - Address Pension Liabilities and Costs. The state has a number of options for allocating funds that would improve the funding status of the pension systems and/or provide cost relief for districts. For example, the state could use one ‑time funds to pay down pension liabilities more quickly, which would also tend to lower district costs over the next several decades.
https://lao.ca.gov/Publications/Report/4473

MOU Fiscal Analysis: Bargaining Unit 18

Aug 12, 2022 - The agreement specifies that, at the state ’s discretion, unused VPLP credits can be cashed out. Make Night Shift Pay Differentiable Included in Calculation of Pension Benefit. Under the current agreement, pay differentials received for working night shifts are not included when calculating employee pension benefits.
https://lao.ca.gov/Publications/Report/4617

The 2024-25 Budget: California's Fiscal Outlook [Publication Details]

Dec 7, 2023 - Each year, our office publishes the Fiscal Outlook in anticipation of the upcoming budget season. The goal of this report is to give the Legislature our independent estimates and analysis of the state’s budget condition as lawmakers begin planning the 2024-25 budget.
https://lao.ca.gov/Publications/Detail/4819

The 2024-25 Budget: California's Fiscal Outlook

Dec 7, 2023 - These options, however, tend to be disruptive for school operations, particularly when the state announces them on short notice. In addition, the state ’s options for reductions in 2022 ‑23 are relatively limited because the state has allocated most of the funding attributable to the prior year already.
https://lao.ca.gov/Publications/Report/4819

Contributions to CalSTRS [EdBudget]

Jan 27, 2022 - PEPRA = Public Employees' Pension Reform Act. 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 | information [at] lao.ca.gov
https://lao.ca.gov/Education/EdBudget/Details/595

Districts' Pension Contribution Rates and Amounts [EdBudget]

Sep 1, 2021 - Districts' Pension Contribution Rates and Amounts [EdBudget]     a Projections for 2022-23 through 2024-25 are based on CalSTRS' and CalPERS' most recent actuarial valuations (for the fiscal year ending June 30, 2020).
https://lao.ca.gov/Education/EdBudget/Details/544

MOU Fiscal Analysis: Bargaining Units 1, 3, 4, 11, 14, 15, 17, 20, and 21 (SEIU Local 1000)

Sep 6, 2019 - This pay differential is considered pensionable compensation. The administration estimates this will increase state costs in 2019 ‑20 by $800,000 ($90,000 from the General Fund) and annual state costs by about $1  million in subsequent years.
https://lao.ca.gov/Publications/Report/4094