California’s Tab for Retiree Health Care Benefits on the Rise
On Tuesday, Controller John Chiang (D) announced that California's unfunded liability for health care and dental benefits for retired public workers had increased to $51.8 billion, the Sacramento Bee reports.
The figure is $3.6 billion higher than an estimate released last year.
Chiang advised legislators to increase the state's annual contribution to CalPERS to $3.9 billion to help prefund the liability.
The current budget would contribute $1.3 billion to CalPERS (Wiegand, Sacramento Bee, 2/10).This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.