Coronavirus (COVID-19) News and Resources
Coronavirus (COVID-19) Webcasts
Subscribe to Free Daily Newsletters
Post a Job

Featured Jobs

Enrolled Actuary
Loren D. Stark Company logo
Loren D. Stark Company
(Telecommute)
ESOP Valuation Writer
Unique ESOP Valuation Provider
(Telecommute)

Free Daily News and Jobs

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Get the BenefitsLink app LinkedIn
Twitter
Facebook

<< Previous news item   |   Next news item >>



Cities Could Save Pensions in Bankruptcy
Orange County Register Link to more items from this source
[Opinion]
Oct. 19, 2014
"Stockton never asked to adjust pensions (it wants to pay pension bills in full and give bondholders just pennies on the dollar). And the gargantuan [CalPERS] -- which has long (and some say arrogantly) argued that pension obligations are sacrosanct, even in federal court -- says, 'The real precedent ... is that even if municipalities are allowed to impair pensions in the rare situation of bankruptcy, cities like Stockton can make the smart decision to protect the pension promises for their public employees.' They could. But that doesn't mean a bankruptcy judge will agree."

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 link above).
An important word about authorship: BenefitsLink® is providing a hypertext link to the item shown above, but is not the author of the item (unless otherwise specified).
© 2020 BenefitsLink.com, Inc.