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