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Local city governments in the San Gabriel Valley and Whittier are realizing the future costs of pensions and retirement benefits for their employees. The costs will be enormous and city governments need to save money for their future obligations. Arcadia's retiree medical cost is $375,062 this year and its unfunded health liabilities for current employees and retirees is $10.3 million. Unfunded health liability is the amount that would be needed to pay for all health obligations to current employees if they were to retire today, and for all retirees. Other cities' obligations are shown in a chart.

https://arcadiahistory.andornot.com/en/permalink/newspaper31422
Newspaper
Pasadena Star News
Date
March 29, 2009
Pages
p. A1
Newspaper
Pasadena Star News
Date
March 29, 2009
Pages
p. A1
Subjects
City Employees
City governments
Local governments
Municipalities
Pensions
Retirement benefits
Item ID
31615AN
Collection
Newspaper Index
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