Only the Rendell Administration could spin this as good news. Pennsylvania taxpayers are facing an $8.5 billion price tag to pay for all those retired state workers and teachers. So what's the good news, you ask? The Rendell Administration originally calculated the costs at nearly $14 billion, but they were off by about 40 percent.
So breathe easier, Pennsylvania taxpayer. You're on the hook for just $8.5 billion. Better start putting away some money today.
PA Budget Secretary Says Future Retiree Health Care Costs Estimated at $8.5 Billion
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