News Headlines Article

California retiree health care gap reaches $72B
San Mateo Daily Journal

California’s unfunded obligation to pay for the health and dental care of retired state government workers grew by 11 percent during the most recent fiscal year to nearly $72 billion, according to a report released Tuesday by the state controller’s office. In a report he has issued annually since 2007, Controller John Chiang proposed a five-year plan to start pre-funding the benefit, which is rarely offered in the private sector.