Nicholas Pension Consultants
Compensation Strategies Group, Ltd.
Nova 401(k) Associates
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|California Governor's Plan to Eliminate Retiree Health Care Debt|
Jan. 12, 2015
"Gov. Brown wants state workers to begin paying half the cost of their future retiree health care -- a big change for workers making no payments for coverage that can pay 100 percent of the premium for a retiree and 90 percent for their dependents. The governor also wants state workers to be given the option of a lower-cost health insurance plan with higher deductibles. The state would contribute to a tax-deferred savings account to help cover out-of-pocket costs not covered by the plan. More funding and lower premium costs are key parts of a plan to eliminate a growing debt or 'unfunded liability' for state worker retiree health care, now estimated to be $72 billion over the next 30 years."
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