News Headlines Article

Unfunded debt of state worker health care continues to climb
Sacramento Business Journal

$64.6 billion. That’s how much the state of California is not paying — but is expected to owe — state workers for health and dental benefits over the lifetimes of current and future retirees. The debt, known in wonk speak as the actuarial accrued liability, grew by $730 million in June 2013 from the prior year. The rate of those increasing costs have been significantly reduced due to the combination of declining health care claims and falling health care inflation rates, plus cost-savings strategies by the California Public Employees’ Retirement System.