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California Unfunded Health Liability Grows

(AP) - State Controller Betty Yee says California's unfunded liability for retiree health and dental benefits has grown to $74 billion.

The figure released Tuesday is up $2.4 billion from compared with last year's liability. Still, it's lower than the controller's office predicted, in part because claims did not rise as rapidly as expected.

The unfunded liability represents the cost the state must pay over time to cover health and dental benefits promised to state employees. Gov. Jerry Brown has proposed prefunding health benefits using money from workers and the state as well as future investment returns.

Currently, retiree benefits are paid from the state general fund as they are incurred.