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 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

The 2024-25 Budget: Overview of the Governor's Budget

Jan 13, 2024 - For example, major categories of cost shifts in the Governor’s budget include proposals to: defer one month of state employee payroll from June to July, which results in $1.6 billion in one‑time savings; redirect a $1.3 billion supplemental pension payment made under the requirements of Proposition 2 for actuarially required contributions to the California Public Employee Retirement System, and $1.2 billion in special fund loans.
https://lao.ca.gov/Publications/Report/4825

The 2020-21 Budget: Proposition 2 Debt Payment Proposals [Publication Details]

Mar 10, 2020 - This represents a key and unique opportunity for the state. The Governor offers one strategy to prioritize these funds over the next few years. Notably, the Governor focuses on the state’s share of the unfunded liability for teachers’ pensions.
https://lao.ca.gov/Publications/Detail/4196

The 2022-23 Budget: Overview of the Spending Plan

Oct 12, 2022 - (We treat funding increases for core operations, including pensions and other employee benefits, as maintaining current service levels rather than discretionary spending.) Additional Funding Increases for Undergraduate Enrollment Growth.  
https://lao.ca.gov/Publications/Report/4616

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

The 2022-23 Budget: California’s Fiscal Outlook

Nov 17, 2021 - Reflecting these return assumptions could result in substantially lower state costs, particularly for the teachers ’ pension system. The box nearby has more details on possible future developments in the state ’s pension systems.
https://lao.ca.gov/Publications/Report/4472

The 2021-22 Budget: The Governor’s Proposition 2 Proposals

Apr 26, 2021 - Since then, the state has repaid all of the eligible budgetary debts, meaning the remaining eligible uses of Proposition  2 are related to unfunded liabilities for pensions and retiree health benefits, as shown in Figure  4.
https://lao.ca.gov/Publications/Report/4418

The 2025-26 Budget: California's Fiscal Outlook [Publication Details]

Nov 20, 2024 - Every year, our office publishes the Fiscal Outlook in anticipation of the upcoming budget season. This report gives the Legislature our independent estimates and analysis of the state’s budget condition with the goal of helping lawmakers prepare for the 2025-26 budget process. See our other Fiscal Outlook publications here.
https://lao.ca.gov/Publications/Detail/4939

The 2020-21 Budget: Structuring the Budget

Feb 10, 2020 - The 2019 ‑ 20 b udget focused on paying down state debts —in particular, making supplemental pension payments —as a key tool to improving the budget ’s multiyear balance. These supplemental payments reduce the state ’s unfunded liabilities, thereby reducing future annual payments to the pension system and reducing costs over a few decades.
https://lao.ca.gov/Publications/Report/4150