WASHINGTON — States continue to have large unfunded health care and other post-employment benefits despite reducing them since 2011, but more action is needed to protect their credit, according to a new report from Standard and Poor’s.

State OPEB liabilities declined by $16 billion, or 3%, to $528.8 billion from 2011, the rating agency’s report concluded. OPEBs primarily represent retiree health care benefits, but can also include other non-pension benefits extended to retired government employees, such as life insurance.

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