$177 Million
The CSU Board of Trustees recognizes salary and benefits for faculty, staff and management as a key element to the university’s success. Continued investment in competitive salary and benefits is critical for the CSU to fulfill its primary mission of access to an affordable and high-quality education. A competitive compensation package is essential to the CSU’s ability to recruit and retain the best faculty, staff and management employees.
Compensation Pool
| $139,830,000
|
Health Benefits
| $25,981,000
|
Retirement Benefits
| $11,591,000
|
Total
|
$177,402,000
|
Compensation Pool
This budget plan calls for approximately $139.8 million to fund 2020-21 compensation increases, subject to collective bargaining, for all employee groups. The 2020-21 cost of the compensation increases is based on 2019-20 final budget salaries and salary-related benefits (OASDI, Medicare and retirement).
Health Benefits
Permanent base budget costs associated with January 2020 employer-paid health care premium increases are over $25.9 million. Health care premiums are shared between the CSU and its employees, with the CSU funding a significant portion of the costs. The CSU is governed by California Government Code section 22871 that defines the employer-paid contribution rates.
Retirement Benefits (above state-funded)
Beginning with the 2014-15 fiscal year, a limit was placed on the state’s obligation to adjust CSU retirement funding due to annual changes in CalPERS rates. The state’s obligation to adjust retirement funding continues (Government Code section 20814), but the salary base applied to the incremental rate change is set to the CSU 2013-14 pensionable payroll level as reported by the State Controller’s Office. The $11.6 million included here represents the projected 2020-21 unfunded retirement cost for annual CalPERS employer-paid rate adjustments that must be funded by the CSU.