The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - CalSTRS is the world ’s largest educator ‑only pension system, administering the $315  billion Teachers ’ Retirement Fund for more than 1  million members and beneficiaries (as of June 2023). CalSTRS ’ 12 ‑member Teachers ’ Retirement Board (CalSTRS Board) administers the fund and is constitutionally responsible for overseeing the system ’s investment policies and ensuring that benefit payments are made on time and according to law.
https://lao.ca.gov/Publications/Report/4887

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - It remains to be seen whether this will occur, but there are some conceivable paths toward broader improvements. One path is falling interest rates and expansion of money available for lending and investment.
https://lao.ca.gov/Publications/Report/4939

Rethinking California's Reserve Policy

Apr 10, 2025 - Asset market downturns, like stock market drops or real estate slumps, can also reduce capital gains tax revenue and other investment ‑related income, lowering state revenue. Conversely, revenues can grow quickly in response to economic expansions or run ups in the stock market.
https://lao.ca.gov/Publications/Report/5028

The 2020-21 Budget: Proposition 2 Debt Payment Proposals

Mar 10, 2020 - (If the system exceeded its investment target in a subsequent year the unfunded liability could be reduced or eliminated.) Using Proposition   2 t o make up for these investment losses would keep the plan on track.
https://lao.ca.gov/Publications/Report/4196

The 2025-26 Budget: Multiyear Budget Outlook

May 24, 2025 - Across the budget window (2023-24 to 2025-26), we estimate the budget condition improves by nearly $2  billion relative to the administration ’s projections. This modest improvement reflects our somewhat higher revenue estimates, partially offset by slightly higher projected spending.
https://lao.ca.gov/Publications/Report/5052

The 2023-24 California Spending Plan: Other Provisions

Nov 8, 2023 - Facility Maintenance and Improvement. The below budget augmentations were approved to support facility maintenance and improvement for Veterans Homes and the CalVet Headquarters. Headquarters Building Electrical Maintenance ($22  Million).
https://lao.ca.gov/Publications/Report/4814

The 2025-26 Budget: Initial Comments on the Governor's May Revision

May 17, 2025 - All Other Changes Improve Budget Bottom Line by $2   Billion. Across the rest of the budget, the administration estimates a net improvement of $2  billion to the General Fund bottom line. The  largest component is a $1.5  billion upward revision to the entering fund balance, primarily driven by higher ‑than ‑expected reversions of unspent funds and lower required Proposition  2 (2014) debt payments.
https://lao.ca.gov/Publications/Report/5044

The 2022-23 Budget: Overview of the Spending Plan

Oct 12, 2022 - The spending plan reflects a number of major investments in behavioral health. These investments include roughly $2  billion in General Fund expenditures in 2022 ‑23 approved last year as part of the multiyear Children and Youth Behavioral Health Initiative.
https://lao.ca.gov/Publications/Report/4616

The 2025-26 Budget: Overview of the Governor's Budget

Jan 13, 2025 - These gains are not tied to improvements in the state ’s broader economy, which has been lackluster, with elevated unemployment, a stagnant job market outside of government and healthcare, and sluggish consumer spending.
https://lao.ca.gov/Publications/Report/4951

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

Nov 17, 2021 - Although CalSTRS recently reported investment returns far above its long ‑term target, these returns are unlikely to reduce required district contributions. Under the funding plan the Legislature adopted in 2013 ‑14, the state General Fund is responsible for most of the volatility in CalSTRS ’ investment returns.
https://lao.ca.gov/Publications/Report/4473