Moody’s Investors Service Says Court-Approved CalPERS’ Pension Plan Could Set Precedent in California
On Wednesday, Moody's Investors Service released a statement saying a court-approved plan to cut payments to debtors and maintain contributions to the CalPERS pension program "likely sets a precedent that pensions will enjoy better treatment than debt in California (municipal bankruptcy) cases."
- "Stockton Bankruptcy Plan Sets Good Precedent for CalPERS, Credit Firm Says" (Ortiz, "The State Worker," Sacramento Bee, 11/5).
This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.