MOU Fiscal Analysis: Bargaining Unit 12 (Craft and Maintenance)

Jun 27, 2025 - A future Legislature and Governor could face pressure to use money from the trust fund as soon as it becomes available, e specially to address a budget problem, should one exist in 2046. To the extent that money is drawn from the fund before the benefit is fully funded, the likelihood of the benefit ever becoming fully funded will further diminish.
https://lao.ca.gov/Publications/Report/5060

MOU Fiscal Analysis: Bargaining Unit 16 (Physicians, Dentists, and Podiatrists)

Jul 14, 2025 - The reduced amount of money invested in the trust fund will result in higher unfunded liabilities in the long-run. In most of the agreements, the state ’s contributions towards the benefit would be fully restored in 2027-28.
https://lao.ca.gov/Publications/Report/5064

The 2025-26 Budget: Concession Bargaining

May 19, 2025 - The California Public Employees ’ Retirement System (CalPERS) determines how much money must be contributed each year to fund the pension benefit. There are two components of the total contribution to CalPERS.
https://lao.ca.gov/Publications/Report/5047

MOU Fiscal Analysis: Bargaining Unit 9 (Professional Engineers)

Jun 27, 2025 - The money contributed by the state and employees to prefund the benefit is put in a trust fund. Projections at the time indicated that the benefit would be fully funded by 2046. Under the plan, the assets of the trust fund cannot be used to pay for the benefit until 2046 or whenever the benefit is fully funded, whichever comes first.
https://lao.ca.gov/Publications/Report/5061

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

Sep 9, 2025 - Suspending employer and employee contributions creates a short-term benefit to both the employer and employee; however, it will result in less money being invested in the trust fund and higher unfunded liabilities for the state in the long run.
https://lao.ca.gov/Publications/Report/5073

MOU Fiscal Analysis: Bargaining Unit 13 (Stationary Engineers)

Jun 24, 2022 - The proposed agreement would reclassify this payment as an allowance rather than a reimbursement and would increase the amount of money eligible employees receive to $670. Increases Footwear Allowance for Eligible Employees.
https://lao.ca.gov/Publications/Report/4607

The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - Supplemental Pensions Payments Employers May Contribute Any Amount of Money Above What Is Required. Pension boards determine —either according to actuarial standards or statutory requirements —how much money employers must contribute to the pension system each year to address any existing unfunded liabilities.
https://lao.ca.gov/Publications/Report/4887

MOU Fiscal Analysis: Bargaining Unit 5 (Highway Patrol)

Aug 23, 2024 - As a pension system matures, its cash flow changes from a positive cash flow (more money coming into the system than is being paid out to beneficiaries) to a negative cash flow (more money is being paid out to beneficiaries than is coming into the system).
https://lao.ca.gov/Publications/Report/4920

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

Jun 23, 2025 - The money contributed by the state and employees to prefund the benefit is put in a trust fund. Projections at the time indicated that the benefit would be fully funded by 2046. Under the plan, the assets of the trust fund cannot be used to pay for the benefit until 2046 or whenever the benefit is fully funded, whichever comes first.
https://lao.ca.gov/Publications/Report/5058

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

Sep 7, 2023 - However, there is no requirement that the money be used to further this purpose. Recruitment and Retention Payments. The agreement would provide specified payments related to recruiting and retaining employees.
https://lao.ca.gov/Publications/Report/4800