(AP) - 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.
The unfunded liability represents the cost the state must pay over time to cover health and dental benefits promised to state employees. Gov. Jerry Brown has proposed prefunding health benefits using money from workers and the state as well as future investment returns.
Currently, retiree benefits are paid from the state general fund as they are incurred.
Follow us for more stories like this
CapRadio provides a trusted source of news because of you. As a nonprofit organization, donations from people like you sustain the journalism that allows us to discover stories that are important to our audience. If you believe in what we do and support our mission, please donate today.
Donate Today
