California only pays for retiree health benefits on a ‘pay-as-you-go’ basis, or only covering the minimum amount needed to fund the costs as they are due. The current unfunded liability of $72 billion has grown by $24 billion in just eight years — and by more than $7 billion in nine months. This is a liability that has grown over decades of poor fiscal planning and a callous willingness to pass along debt to our children’s generation.
Posted on: Mon, 22 Dec 2014 17:22:51 +0000
Trending Topics
Recently Viewed Topics
© 2015