retirement

New Scrutiny For Brown's Retiree Health Care Proposal As Labor Talks Begin

Mar 18, 2015
Creative Commons licensed from Flickr user Glenngould / http://www.flickr.com/photos/for_tea_too/1957375742/

A new report from the non-partisan Legislative Analyst’s Office criticizes California Governor Jerry Brown’s proposed overhaul of state worker retiree health care benefits – just as labor negotiations are getting under way. Ben Adler has more from Sacramento. California faces more than $70 billion in unfunded retiree health care for state workers – and the governor says it’s time to act. Here’s Brown in January on NPR. 

California Legislature to Tackle Teacher Retirement Fund Debt

Jan 29, 2014
Andrew Nixon / Capital Public Radio

Some lawmakers say it’s time to get serious about paying down debt accrued by California's teachers’ retirement system. But, as Katie Orr reports from Sacramento, that will take a big financial commitment.

Assembly Democrats say they’re ready to look for ways to pay down the unfunded liability of the California State Teachers’ Retirement System. The governor’s office puts the debt at more than $80 billion.

Speaker John Perez says the Assembly will begin hearings on the issue.

When state lawmakers were beating their chests last year about the need to reduce pension liabilities, they didn’t actually do anything about the largest liability of all. 

The California State Teachers Retirement System – known as CalSTRS – is facing a projected $70 billion shortfall.   KPCC’s Julie Small attended a sobering hearing Wednesday on the state’s options for closing the gap.

Stephanie Barraza

The world for the retiree is evolving. For some retirement means a chance to globe-trot or travel across the country in an RV, but for many 65 is just another milestone, a reminder of poor financial decisions earlier in life or a chance to explore a second career.

This week on Valley Edition we look into an airplane disaster that took place in the hills near Coalinga 65 years ago. The accident grabbed national headlines and even inspired a song by Woody Guthrie titled 'Deportee.' Valley Public Radio reporter Rebecca Plevin explores the tragedy with the help of local author Tim Z. Hernandez and his quest to ensure that those who died in the crash are not forgotten. Hernandez, along with the Fresno Diocese and Holy Cross Cemetery are working together to erect a memorial headstone with the full names of all 28 passengers. 

California State Controller's Office

A new report shows the unfunded liability for state retiree health benefits in California has grown to more than $63 billion.

As Amy Quinton reports from Sacramento, State Controller John Chiang says some increases in future liability could be prevented.

Chiang says the unfunded obligation for state retiree benefits has grown almost two billion dollars from 2011 to 2012. That’s less than expected because of fewer and less expensive healthcare claims.