The Last Half-Decade of California’s Pension Contributions, Visualized

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California actually has a good track record making its payments to CalPERS — unfortunately, the same can’t be said for CalSTRS. Even so, the state’s track record on both fronts got better last week when lawmakers upped its 2014 payment to the two systems by a combined $1 billion.

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Contributions to CalPERS aren’t the problem; the state has made good on their Actuarially Required Contribution for years now (although, if we’re being honest, the fund could always use more state dollars. And there’s no rule against paying more than 100% of an ARC). But CalSTRS is another story.

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California took a step forward last week by increasing its contribution for FY 2014-15. But there is still much work that needs to be done.

 

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6 Responses to “The Last Half-Decade of California’s Pension Contributions, Visualized”

  1. Kris Hunt says:

    Added to all of the above is the Retiree Healthcare obligation which is completed unfunded. That is how you lie with numbers on a California budget. You only include the amount you pay, not the amounts you owe for past service for pensions or retiree health.

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