Although out of office for two months, former Assemblyman Keith Richman is still sounding the alarm about the "ticking time bomb" effect of public employee pensions, calling it the greatest fiscal issue facing the state.

Richman told a group of Ventura County taxpayers advocates Tuesday that unless changes are made, the pension debt will overwhelm the state's ability to fund higher education, build roads and develop technology.

Some estimates show the state has promised its government workers at least $100 billion more in cash payments and healthcare benefits than its pension funds are projected to be able to cover. Billions more are owed to local government employees statewide, Richman said.