State employees: postemployment benefits.

Existing law requires all state and local retirement systems to secure, not less than triennially, the services of an enrolled actuary, who is to perform a valuation of the system. Existing law requires all state and local public retirement systems to secure the services of a qualified person to perform an attest audit of the system's financial statements and to provide reports in this regard to the Controller. Existing law requires the Controller to review these reports and requires the Controller to publish an annual report on the financial condition of all state and local public retirement systems, as specified. This bill would require the Controller to include in its 2015 report a section that uses the data collected for that report to evaluate the actuarial feasibility and associated costs of a statewide buyout of current state employees' defined postemployment health care benefits.