CALIFORNIA’S UNFUNDED RETIREE HEALTHCARE LIABILITY NOW $150 BILLION, RIVALS PENSION DEBT
Yesterday, California Common Sense (CACS) released the most extensive analysis to date of unfunded retiree healthcare liabilities associated with California’s state and local governments, as well as its public education institutions. The report, “Surveying California’s Unfunded Retiree Healthcare Obligations,” assessed the financials of 690 “Other Post-Employment Benefit” (OPEB) plans statewide. It studied those for the State of California, 53 counties, 352 cities, the state trial court system, 282 school districts, and the University of California system. This survey found that the state of California and its constituents have $157.7… Read More