News Headlines Article

Estimate of how much state owes for retiree healthcare keeps rising
Los Angeles Times

While lawmakers begin discussing ways to fix California’s cash-strapped teacher pension system, another long-term financial problem continues to fester. The cost of providing healthcare to retired state workers is $64.6 billion more than state leaders have set aside to pay, an increase of $730 million from the previous year. The new numbers, calculated as of last June, were released by state Controller John Chiang on Thursday.