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Text of Amicus Brief by CalPERS Supporting Appeals by Retirees in Detroit Bankruptcy Case (PDF)
CalPERS Link to more items from this source
May 1, 2014
"Vacation of this aspect of the eligibility decision is important ... because such a precedent can be, and has been, misconstrued for the broad proposition that all pensions are subject to impairment in chapter 9. This is too simplistic a view.... The fact that a municipality is in bankruptcy does not alter the State's control over the municipality vis-a-vis the Pension Clause ... Congress did not intend to provide municipal debtors with a license to ignore State laws governing their conduct simply because those laws may make it harder for them to adjust their debts. Such adjustment cannot be done at the expense of State law." [In re City of Detroit, Michigan, No. 13-53846 (Bankr. E.D. Mich. Dec. 15, 2013)]

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