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

Apr 24, 2017 by

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%

Source: California school district pension contributions on track to exceed $11 trillion by 2023 | California Policy Center

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