Bankrupt Cities Continue To Make CalPERS Payments Despite Court Ruling Allowing Reduced Contributions
In a filing Monday in U.S. Bankruptcy Court, San Bernardino agreed to make full payments to CalPERS, keep their retirement plans intact and repay overdue payments. The decision to continue payments comes in spite of a court ruling last month allowing bankrupt California cities to reduce payments for future workers' retirements. Stockton also decided to continue making full payments.
- "Public Pensions in California Pass Another Bankruptcy Test" (Kasler, Sacramento Bee, 11/18).