CalPERS Plans to Create Trust Fund To
Help Pay Government OPEB Costs
From The Bond Buyer
2/26/07
SAN FRANCISCO — The California Public Employees’ Retirement System is creating a trust fund to help ensure government employers can pay the future costs of their retirees’ health care benefits.
“This plan strengthens the security of retirees’ benefits and will help stabilize and reduce future costs for taxpayers,” state Treasurer Bill Lockyer said in a prepared statement.
Lockyer’s announcement only concerned starting the trust fund. However, funding the trust presents a greater challenge, according to Standard & Poor’s analyst Parry Young.
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