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Mayor Lee cites $4.4 billion unfunded retiree health liability, announces employee wellness leadership council
Summary
Mayor Edwin Lee told the Board of Supervisors the city faces a $4.4 billion unfunded retiree health liability and said his administration is forming a wellness leadership council to reduce future costs.
Mayor Edwin Lee told the Board of Supervisors that San Francisco faces a multibillion-dollar unfunded liability for retiree health care and outlined steps his administration has taken and will take to address rising employee health costs.
"This year we will spend $574,000,000 for the health care of our current employees, retirees, and their dependents," Lee said in question time with supervisors. He added that a city assessment in November 2012 estimated the unfunded…
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