CA SB90

Appropriates $2,246,000,000 from the General Fund for fiscal year 2018–19 to the Teachers' Retirement Fund to reduce employer contribution requirements by 1.03 percentage points for 2019–20 and 0.70 percentage points for 2020–21, with remainder applied to unfunded actuarial obligations.

Appropriates supplemental amounts to the Teachers' Retirement Fund to address the state's unfunded actuarial obligation as identified in the annual Budget Act.

Appropriates $2,500,000,000 from the General Fund for fiscal year 2018–19 to the Public Employees' Retirement Fund for state employee contributions, distributed among employee member categories.

Appropriates additional funds for PERS unfunded liabilities: $265,000,000 for fiscal year 2020–21, $200,000,000 for fiscal year 2021–22, and $35,000,000 for fiscal year 2022–23.

Appropriates $904,000,000 from the General Fund for fiscal year 2018–19 to the Public Employees' Retirement Fund for school employer contributions and unfunded liabilities.