EdBudget Figures
Related Figures
- Proposition 98 Funding by Segment and Source
- Tracking Changes in the Current- and Prior-Year Proposition 98 Guarantee
- Proposition 98 Key Inputs and Outcomes Under Governor's Budget
- Proposition 98 Changes Over the Budget Period
- District Pension Contribution Rates and Amounts
- Major Proposition 98 Spending Proposals
- 2024-25 Changes in Proposition 98 Spending
- 2023-24 Changes in Proposition 98 Spending
- 2022-23 Changes in Proposition 98 Spending
January 2024
Proposition 98 Overview
Contributions to CalSTRS
(Dollars in Billions)
| Actual | Projectionsa | ||||||
| 2022-23 | 2023-24 | 2024-25 | 2025-26 | 2026-27 | 2027-28 | ||
| Contribution Rates | |||||||
| Employers | 19.1% | 19.1% | 19.1% | 19.1% | 19.1% | 19.1% | |
| Stateb | 10.8% | 10.8% | 10.8% | 10.8% | 10.8% | 10.8% | |
| Teachers (pre-PEPRA) | 10.3% | 10.3% | 10.3% | 10.3% | 10.3% | 10.3% | |
| Teachers (PEPRA) | 10.2% | 10.2% | 10.2% | 10.2% | 10.2% | 10.2% | |
| Contribution Amounts | |||||||
| Employers | $6.7 | $7.1 | $7.6 | $7.9 | $8.1 | $8.4 | |
| State | 3.7 | 3.9 | 4.2 | 4.4 | 4.5 | 4.7 | |
| Teachers | 3.6 | 3.8 | 4.1 | 4.2 | 4.4 | 4.5 | |
| Totals | $14.0 | $14.8 | $15.9 | $16.5 | $17.1 | $17.7 | |
| Notes: | |||||||
| a Projections are based on CalSTRS' most recent actuarial valuation. Rates and amounts for 2024-25 and subsequent years will be updated based on actual teacher payroll and investment returns, among other factors. | |||||||
| b Rates include the state's required contribution to the Supplemental Benefits Maintenance Account. | |||||||
| CalSTRS = California State Teachers' Retirement System. PEPRA = Public Employees' Pension Reform Act. | |||||||