Under CC license from 401kcalculator.org/Flickr
Thousands of Californians spent years working for city governments and are now collectively owed billions of dollars in retiree health care benefits. But a new studyby the nonprofit research group California Common Sense finds that many cities, including Oakland and San Francisco, haven’t ever set aside money to pay these costs. The report suggests two unpalatable results: take the money from other city services, or refuse to pay the benefits at all. KALW’s Hana Baba spoke with the author of the report, Adam Tatum, about what local governments should do.
Click the player above to listen to the interview.