•Most common CalPERS Plan: employer
17%; the employee contribution fixed at
•The budget proposal: equal sharing of the contribution by
the state and employees means employee contribution would
more than double to 11%—effectively, a 6% pay cut.
•$469 million in pension contributions would be
shifted to K-14
teachers for the 2005-’06 fiscal year.
•And more: state contribution to health care premium frozen, …