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Sacramento-area governments grapple with unfunded retiree health benefits
Sacramento Bee

It seemed like a good idea at the time. Pay Sacramento County retirees to offset their medical and dental insurance costs, the county decided in 1980.

It was straightforward, reaching $244 per retiree by 2004. But that was before $100 million-plus shortfalls savaged the county budget.

Now the county faces another cost that, until recently, wasn’t even calculated: the long-term unfunded liability for retirees’ health benefits, which stands at $245.6 million for about 3,900 annuitants.