It’s called the unfunded liability. From 2012 to 2013 it grew by $730 million.
That’s actually less than expected because there have been fewer health care claims and health care inflation was lower than expected.
But State Controller John Chiang says the state should stop covering only the minimum amount needed to fund health care costs as they are due.
Instead, some money should be set aside in a trust solely for future retiree benefits, just like a savings account.
Chiang says the state could save more than $20 billion by pre-funding its obligation.
“Get the benefit of some interest and you will grow your money, same thing for trying to take down the health care obligations for the state of California," says Chiang. "If you can’t make full payment, let’s make some payment and make the tax obligations that are going to be used in the future drop significantly.”
California’s system of water rights is coming under scrutiny as the state’s drought gets worse. Today Governor Jerry Brown indicated there may be some changes coming to the century-old system.
Governor Jerry Brown has declined to say whether he supports a bill that would extend Medi-Cal to some undocumented immigrants in California.
California taxpayers will likely be contributing more money to the state’s retirement system.
Police body cameras have the potential to provide more information about law enforcement interactions with the public. And today a California Assembly committee considered when police should be allowed to review the video they've taken.
Take a tour of the California state Capitol - but not just any tour. This one includes a little history, some surprising details that are easy to miss, and a rare trip to the top of the Capitol dome.