The Pew Center On The States found Georgia is doing well in saving for state employees’ pensions. But the Center says the state isn’t doing as well in saving for retired state employees’ healthcare.
The Pew Center recommends states save at least eighty percent of the amount needed for state employee pensions.
Georgia’s pension funds have a total of eighty five percent saved.that ranks it among Pew's strong performers.
But Georgia has saved only three percent of state employees and retirees' estimated healthcare costs. The Center says it should have eight percent saved.
PEW’S David Draine says THAT’S A LOT OF MONEY FOR Georgia to come up with.
“Actuaries recommend that they set aside in 2010 1.8 billion dollars for that liability. And they set aside about 400 million.”
Draine says the state still has time to save the money needed. But he says it will require state policymakers to make some tough choices.
They will have to decide whether to raise taxes, cut services or require state retirees and employees to pay more of their own healthcare expenses.