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Tackling California's Ballooning Debt for Retiree Health Care
Calpensions 
Dec. 22, 2014
"The debt or 'unfunded liability' [California] state Controller John Chiang reported last week for state worker retiree health care, $72 billion, is larger than the unfunded liability for state worker pensions reported by CalPERS in April, $50 billion.... More than two decades ago legislation created a pension-like investment fund in the state treasurer's office to help pay for state worker retiree health care. But lawmakers never put money in the retiree health care fund."
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