Skip to comments.Report: Public pension, health care gaps grew in 2008-09
Posted on 04/27/2011 7:36:26 PM PDT by SmithL
California public pension funds had a combined $490 billion in obligations in fiscal 2008-09 and enough assets on hand to cover 81 percent of those promises, according to a new report.
But the state's overall public employee retiree health care liabilities reached $66.6 billion with virtually no money set aside for those future obligations, according to the survey by Pew Center on the States.
"The Widening Gap: The Great Recession's Impact on State Pension and Retiree Health Care Costs" also says that California should have paid $12.4 billion into its public retirement funds that year but paid only about 82 percent of that.
(Excerpt) Read more at blogs.sacbee.com ...
This is RICO, a criminal enterprise between politicians and union leaders and the Feds will eventually get involved.