California school district pension contributions on track to exceed $11 trillion by 2023

California school districts are contributing $5.6 billion to CalSTRS and CalPERS during the current school year.  These contributions will total $6.7 billion in the next school year, and, according to CPC’s analysis of actuarial projections, they will reach $11.3 billion in the 2022-2023 school year.  Please check back on Tuesday for a more detailed analysis.

CalPERS actuarial analysis: https://www.calpers.ca.gov/docs/board-agendas/201704/financeadmin/item-8a-00.pdf

CalSTRS actuarial analysis: http://resources.calstrs.com/publicdocs/Page/CommonPage.aspx?PageName=DocumentDownload&Id=a73c0f09-405c-42a5-86d2-2587d6926e65

 

	2016-17	2017-18	2018-19	2019-20	2020-21	2021-22	2022-23
CalSTRS and CalPERS Total	$5,618,181,228	$6,697,416,698	$7,886,655,302	$9,165,485,481	$10,246,568,417	$10,794,351,673	$11,290,014,803
CalSTRS
Payroll	$31,303,000,000	$32,398,000,000	$33,352,000,000	$34,706,000,000	$35,920,000,000	$37,178,000,000	$38,479,000,000
Employer Base Contributions	$2,582,000,000	$2,673,000,000	$2,766,000,000	$2,863,000,000	$2,963,000,000	$3,067,000,000	$3,175,000,000
Employer Supplemental Contributions	$1,356,000,000	$2,002,000,000	$2,693,000,000	$3,429,000,000	$3,897,000,000	$4,034,000,000	$4,175,000,000
Total Employer Contributions	$3,938,000,000	$4,675,000,000	$5,459,000,000	$6,292,000,000	$6,860,000,000	$7,101,000,000	$7,350,000,000
Total Employer Rate	12.58%	14.43%	16.37%	18.13%	19.10%	19.10%	19.10%
CalPERS
Payroll	$12,098,079,119	$13,021,806,052	$13,412,460,234	$13,814,834,041	$14,229,279,062	$14,656,157,434	$15,095,842,157
Employer Normal Cost	$997,121,741	$1,055,145,859
Unfunded Rate Contributions	$683,059,487	$967,270,839
Total Employer Contributions	$1,680,181,228	$2,022,416,698	$2,427,655,302	$2,873,485,481	$3,386,568,417	$3,693,351,673	$3,940,014,803
Total Employer Rate	13.89%	15.53%	18.10%	20.80%	23.80%	25.20%	26.10%