Districts in Sacramento County, Calif., don't have enough funds to cover cost of future retirees

From The Sacramento Bee: Twelve of the 13 school districts in Sacramento County, Calif., don't have enough money in their coffers to pay the health benefits promised future retirees and are not setting aside money to pay for them, according to a grand jury report. Collectively, the county's school districts have $1 billion in unfunded retiree health benefits, the grand jury says. School officials are effectively ignoring the mounting debt, the report concludes, and barring a drastic change of course, could end up bankrupting their districts or stiffing retirees on health benefits.