Legislative Analyst's Office: Recent General Government Publications, Handouts and Budget Recommendationshttp://www.lao.ca.govGeneral GovernmentLast year, the Legislature asked CalSTRS to submit a report detailing at least three options for addressing the unfunded liabilities of the pension system's Defined Benefit (DB) Program, which are now estimated by system actuaries to total about $70 billion. This handout for the Legislature's Public Employment and Retirement Committees (1) describes the risks of waiting to address CalSTRS' unfunded liabilities, (2) compares CalSTRS' unfunded liabilities to California's other long-term liabilities, (3) and examines possible sources for additional funding. We recommend that the Legislature adopt a plan that aims to fully fund CalSTRS' unfunded liabilities in about 30 years. A companion video further explains our findings and recommendations. http://www.lao.ca.gov/laoapp/PubDetails.aspx?id=2710http://www.lao.ca.gov/laoapp/PubDetails.aspx?id=2710Wed, 20 Mar 2013 00:00:00 GMTGeneral GovernmentOver the past five budget years, furloughs reduced state employee compensation costs by about $5 billion in exchange for giving state employees additional time off. This report examines whether state employees took this additional time off—or whether, after accounting for changes in use of vacation and other time, they worked about as many days as they did before. We find that (1) state workers used most of their furlough days, but decreased their use of vacation and annual leave days, and (2) state leave liabilities and payments to separating employees are now at historic levels. http://www.lao.ca.gov/laoapp/PubDetails.aspx?id=2702http://www.lao.ca.gov/laoapp/PubDetails.aspx?id=2702Thu, 14 Mar 2013 00:00:00 GMTGeneral GovernmentPresented to: Local Agency Investment Fund Annual Conferencehttp://www.lao.ca.gov/laoapp/PubDetails.aspx?id=2665http://www.lao.ca.gov/laoapp/PubDetails.aspx?id=2665Thu, 01 Nov 2012 00:00:00 GMTGeneral GovernmentPresented to the Assembly Special Committee on the Governor's Reorganization Plan No. 2, Hon. Joan Buchanan, Chair.http://www.lao.ca.gov/laoapp/PubDetails.aspx?id=2643http://www.lao.ca.gov/laoapp/PubDetails.aspx?id=2643Thu, 24 May 2012 00:00:00 GMTGeneral GovernmentWe reviewed the proposed Memorandum of Understanding for Bargaining Units 12 (Craft and Maintenance), 16 (Physicians, Dentists, and Podiatrists), 18 (Psychiatric Technicians), and 19 (Health and Social Services/Professionals). If adopted, the MOUs would result in modest increases in state costs for employee compensation.http://www.lao.ca.gov/laoapp/PubDetails.aspx?id=2619http://www.lao.ca.gov/laoapp/PubDetails.aspx?id=2619Fri, 20 Apr 2012 00:00:00 GMT