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San Bernardino, CalPERS Fail to Reach Deal Ahead of Court Date
Reuters
Feb. 7, 2013 "San Bernardino still has not provided crucial financial information, or proposed a plan for resuming its twice-monthly, $1.2 million payments to the fund, [a] CalPERS spokesman said.... CalPERS says its efforts to help the city produce the information have produced nothing, setting the stage for a contentious court hearing on February 12.... Should the bankruptcy judge rule that the pension fund not be paid in full in a restructuring of the city's debt, other struggling California cities could be tempted to alter their payments to CalPERS." MORE >> |
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