The State Worker

Chronicling civil-service life for California state workers

June 6, 2013
CalPERS report: State, schools pension costs will dip next year

Thumbnail image for CALPERS_COURTYARD_JAY_MATHER_2005.JPGA new CalPERS staff report says that pension costs for California state government and school district employees will fall by a combined $102.8 million for the coming fiscal year.

Overall state contributions will fall $71.3 million to approximately $3.81 billion in fiscal 2013-14, according to actuarial estimates prepared for CalPERS' June 18 board meeting. School districts will pay $4.98 billion for pensions, down $31.5 million from this year.

Actuaries anticipate pension costs will dip next year due to a combination of factors, including slower-than-expected salary and payroll growth and higher out-of-pocket contributions from employees under pension law that took effect Jan. 1.

The 2013-14 employer rates will kick in July 1, assuming the fund's board approves them.

CalPERS Estimated State and School Pension Rates for 2013-14 by jon_ortiz

PHOTO CREDIT: CalPERS headquarters. Jay Mather/Sacramento Bee 2005

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About The State Worker

Jon Ortiz The Author

Jon Ortiz launched The State Worker blog and a companion column in 2008 to cover state government from the perspective of California government employees. Every day he filters the news through a single question: "What does this mean for state workers?" Join Ortiz for updates and debate on state pay, benefits, pensions, contracts and jobs. Contact him at (916) 321-1043 and at jortiz@sacbee.com.

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