The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - Accordingly, the state annually makes supplemental pension payments from the General Fund towards the state ’s pension unfunded liabilities. Proposition 2 Proposition   2 Contains Annual Debt Payment Requirement.
https://lao.ca.gov/Publications/Report/4887

The 2020-21 Spending Plan: Pensions

Oct 12, 2020 - The 2020-21 Spending Plan: Pensions Pensions CalPERS Repurposes Prior-Year Supplemental Payment. The 2019 ‑20 budget plan included a $2.5  billion supplemental pension payment to the California Public Employees ’ Retirement System (CalPERS) to reduce the state ’s long-term unfunded liabilities.
https://lao.ca.gov/Publications/Report/4279

The 2020-21 Spending Plan: Pensions [Publication Details]

Oct 12, 2020 - The 2020-21 Spending Plan: Pensions [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/4279

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

Sep 7, 2023 - Under the Public Employees ’ Pension Reform Act of 2013 (PEPRA), the state has a standard that state employees pay one-half of the normal cost of their pension benefit and the state pays one-half of the normal cost.
https://lao.ca.gov/Publications/Report/4800

The 2024-25 Budget: Proposition 2 Debt Payment Proposals [Publication Details]

Mar 20, 2024 - This report evaluates the Governor’s Proposition 2-related debt and liabilities payment proposals.
https://lao.ca.gov/Publications/Detail/4887

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

Sep 9, 2025 - Freezes Employee Pension Contributions Through 2026-27. The Public Employees ’ Pension Reform Act of 2013 established a standard that state employees contribute one-half of the normal cost to prefund pension benefits.
https://lao.ca.gov/Publications/Report/5073

MOU Fiscal Analysis: Bargaining Unit 8 (Firefighters)

Aug 19, 2025 - CAAP noted that any adverse financial effects of a DROP affect a pension system in the form of an actuarial loss that results in growth in unfunded liabilities. The state is responsible to pay for any unfunded liabilities associated with the pension benefits it provides state employees.
https://lao.ca.gov/Publications/Report/5066

MOU Fiscal Analysis: Bargaining Unit 5 (Highway Patrol) [Publication Details]

Aug 23, 2024 - We reviewed the proposed memorandum of understanding (MOU) for Bargaining Unit 5 (Highway Patrol). This review is pursuant to Section 19829.5 of the Government Code.
https://lao.ca.gov/Publications/Detail/4920

Strengthening the CalSTRS Funding Plan [Publication Details]

Mar 10, 2021 - This report provides an overview of the 2014 California State Teachers’ Retirement System (CalSTRS) funding plan, and analyzes the various challenges and complexities of the plan that have come to light that may impede CalSTRS’ ability to successfully eliminate the system’s unfunded actuarial obligation (UAO) by 2046.
https://lao.ca.gov/Publications/Detail/4400

Strengthening the CalSTRS Funding Plan

Mar 10, 2021 - Appendix Glossary of Key Terms Related to Pension Funds Throughout this report, we refer to terms commonly used when describing pension funds. We define those key terms here, in reference to the California State Teachers ’ Retirement System (CalSTRS).
https://lao.ca.gov/Publications/Report/4400