Bates & Company, Inc.
|
Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
|
AimPoint Pension
|
Hall County Government
|
Compass
|
Regional Vice President of Sales The Retirement Plan Company
|
Loan & Distribution Specialist AimPoint Pension
|
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
Stockton's Bankruptcy and Pension Reform: Limited Options
Bob Deis, former city manager of Stockton, for The Sacramento Bee [Opinion] Aug. 4, 2014
"[R]ejecting the CalPERS contract ... will not produce any more cash for other creditors to divvy up in bankruptcy or to fund more services. Moreover, state law provides a financial incentive for employees to find another CalPERS job within six months after terminating the CalPERS contract. Stockton would experience a massive employee exodus, and retirees would experience a huge reduction in benefits, to well below the poverty line.... Moody's latest pronouncement that cities will file for bankruptcy protection to get out from under their CalPERS bills is ridiculous, because once cities understand what happens in this scenario, they will quickly realize this will lead to their undoing as a viable city."
|
Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |