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California Governor Cut Retirement Debt Bigger Than Pensions
Calpensions
Jan. 7, 2019
"[As] Gov. Brown leaves office, ending what he called the 'anomaly' of retirees paying less for health care than current workers is part of one of his accomplishments ... The state no longer pays for Medicare Part B. And five more years of service are needed to receive state payment of retiree health care premiums, beginning with 50 percent after 15 years and increasing 5 percent a year to 100 percent after 25 years.... [T]he major part of Brown's retiree health care reform applies to workers hired before the reform, not just new hires. All workers are beginning to contribute to a pension-like investment fund to help pay future retiree health care costs."
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