NEWS: CalPERS Could Owe Obamacare $770 Million in “Cadillac Tax’
California government employees could face major reductions in healthcare benefits as a result of a “Cadillac Tax” provision in Obamacare, reports Breitbart.com. The “Cadillac Tax” provision, set to take effect in 2018, imposed a tax on generous healthcare plans and was intended to help keep the cost of care from rising too quickly. As a result, the California Public Employee Retirement System (CalPERS) is now faced with $770 million in new taxes unless they reduce benefits.
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