US - The net general fund retirement costs for California will increase from US$3.5bn in 2006-07 to $5.6bn in 2011-12 - representing a 60% increase in just five years - the Legislative Analyst's Office (LAO) has claimed.
The LAO made the statement as part of its projections of general fund revenues and expenditures for the period. Of the $3.5bn set out in the 2006-07 Budget Act, the state’s payments to the CalPERS ...
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