2023 California financial report withheld, TIA gives state 'D' grade for pension, retiree health care funding.

California's financial health is declining, with officials not releasing the fiscal year 2023 annual financial report for the fifth consecutive year. Truth in Accounting assigns the state a "D" grade, reporting only 82 cents set aside for every dollar of promised pension benefits and five cents for retiree health care. Upcoming ballot measures could worsen the debt crisis, yet political leaders appear unaware of the severity of the state's financial issues.

October 05, 2024
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