SB 454 will require the state to implement retiree medical healthcare benefit reform.
- City of Huntington Beach (pdf)
This bill will make reforms to retired state employee medical healthcare including requiring the Annual OPEB Cost (AOC) be 100% funded; eliminate the Other Post-Employment Benefits (OPEB) 50/50 cost-share-split between the state and its employees, and require 100% of the benefit be paid by the state; and require all state employees to use the 80/80 formula for basic health benefit plan premiums.
- The Sacramento Bee: State retiree health care could cost California $6.6 billion a year
- California Political Review: California Healthcare Unfunded Liability” $76.68 Billion—UP $2.49 Billion in a Year
- California State Controller: State Controller Yee Updates Unfunded Retiree Health Care Liability
- LA Times: Understanding California's public pension debt