Palo Alto Sees Jump in Health Benefit Costs for Retirees
Palo Alto's unfunded liability for providing health benefits to retirees jumped by 28% over two years, a study by Milliman found. The firm traced the increase partly to an increase in the number of city employees who retired and a 36% drop in the value of the city's trust fund since March 31.
- "Palo Alto's Retiree Health Cost Balloon After Surge of Retirements" (Oremus, San Jose Mercury News, 7/31).