CalPERS Files Lawsuit Over Mandated Furlough Days
On Wednesday, CalPERS filed a lawsuit in San Francisco Superior Court arguing that the three furlough days per month mandated by Gov. Arnold Schwarzenegger (R) compromise its ability to serve retirees. The suit also argues that the furloughs generate no savings for the state budget and that they could cost the state more in the long run if the pension fund is unable to rebound from large investment losses.
- "CalPERS Suit Fights Schwarzenegger Over Furloughs" (Kasler, Sacramento Bee, 8/20).
- "CalPERS Sues State Over Furloughs" (Anderson, Sacramento Business Journal, 8/19).