SF Voters Push Through Retiree Health Fund Measure

Law360, San Diego (November 06, 2013, 10:54 PM ET) -- San Francisco voters on Tuesday passed a measure that seeks to eliminate $4.4 billion in unfunded retiree health care liabilities over a 30-year period by preventing officials from raiding the city’s retiree health trust fund for other purposes.

Nearly 69 percent of voters approved Proposition A, which restricts officials from taking money from the retiree fund for other projects until it is fully funded. The measure, proposed by San Francisco Supervisor Mark Farrell, was put on the ballot by the city’s board of supervisors and garnered...
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