Comprehensive Real-Time News Feed for Stockton, CA.
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The consistent success of the California Public Employees' Retirement System in California municipal bankruptcies amounts to a loss for taxpayers. The giant state pension fund has repeatedly inserted itself in municipal bankruptcy proceedings with the aim of preventing any serious discussion of pension reform. Comment?
This month, it was confirmed that the city of San Bernardino would not touch public employee pensions in resolving its bankruptcy. Despite a recent ruling from the Stockton bankruptcy proceedings that agreements with the California Public Employees' Retirement System could be amended by bankrupt cities, neither Stockton nor San Bernardino will be following up on that controversial route. Comment?
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