Unfunded Health Liability For Retirees Increases To $74B
The unfunded liability represents the cost the state must pay over time to cover health and dental benefits promised to state employees.
The Associated Press:
California Unfunded Health Liability Grows
State Controller Betty Yee says California's unfunded liability for retiree health and dental benefits has grown to $74 billion. The figure released Tuesday is up $2.4 billion from compared with last year's liability. Still, it's lower than the controller's office predicted, in part because claims did not rise as rapidly as expected. (1/26)