San Bernardino County To Offer Alternative to CalPERS’ Health Fund
CalPERS' retiree health care fund soon could face competition from a new San Bernardino County health care pool, Capitol Weekly reports.
Last month, California lawmakers approved SB 11 by Sen. Gloria Negrete McLeod (D-Chino). The measure gave San Bernardino County permission to market its retiree health care fund as an alternative to investing with CalPERS for public agencies.
The San Bernardino County Employees Retirement Association said it plans to promote its fund among local California agencies that have not yet started to pre-fund their retiree health care obligations and other post-employment benefits.
Most government agencies in California currently are not pre-funding their retiree health care obligations, according to Capitol Weekly.
San Bernardino County officials said their health care fund could offer greater responsiveness, higher efficiency and lower overhead than CalPERS. They added that the San Bernardino County fund also will provide local agencies with greater flexibility in administering health benefits (Mendel, Capitol Weekly, 11/5).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.