Myths vs. Facts
Myth: Pension Costs for the State of California have increased by 2000 percent in the last 10 years.
March 15, 2010
Fact:
This statement compares a time when the State paid little or nothing during years of robust investment earnings and took a pension holiday to the recent market cycle extremes and current economic downturn.
Fact:
In 1981-82, pension contributions for the largest category of employees cost the State 19.6 percent of payroll. For the current 2009-10 fiscal year the state is paying 16.9 percent.
Fact:
The State of California pays less as a percentage of payroll today than in did in the early 1980s.
| |
1981/82 |
2009/10 |
| State Miscellaneous |
19.563% |
16.917% |
| State Safety |
20.409 |
18.099 |
| CHP |
31.995 |
28.438 |
| School Miscellaneous |
13.020 |
9.428 |
View State and school actuarial valuation reports
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