The State Worker

Chronicling civil-service life for California state workers

December 11, 2012
Read the latest CalPERS - San Bernardino pension court filing

Thumbnail image for Thumbnail image for Thumbnail image for 100609 gavel.jpgFrom biz reporter Dale Kasler's story in today's Bee:

CalPERS must now confront a powerful group of foes in its multimillion-dollar fight with bankrupt San Bernardino: the city's bondholders.

A group of major bondholders filed a 114-page legal protest against CalPERS on Monday, saying the pension fund is trying to win preferential treatment in San Bernardino's case. CalPERS has been demanding the right to sue the city, which has fallen behind on $6.9 million in payments to the giant pension fund after filing for Chapter 9 bankruptcy protection in August.

The San Bernardino case and another municipal bankruptcy involving the City of Stockton are testing whether public pension protections or bankruptcy laws reign supreme.

If you haven't read it already, check out Dale's story then peruse the court filing he sent to The State Worker:

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About The State Worker

Jon Ortiz The Author

Jon Ortiz launched The State Worker blog and a companion column in 2008 to cover state government from the perspective of California government employees. Every day he filters the news through a single question: "What does this mean for state workers?" Join Ortiz for updates and debate on state pay, benefits, pensions, contracts and jobs. Contact him at (916) 321-1043 and at jortiz@sacbee.com.

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