News Headlines Article

State must get handle on health care obligations
Sacramento Bee

While rising pension obligations for public employees have caught the public’s attention, health care obligations for retirees represent another fast- growing cost that neither the state nor local governments have adequately prepared for.

Last week, Controller John Chiang released a new actuarial report that pegged the unfunded liability for state retiree health costs over the next 30 years at nearly $60 billion.