CalPERS battles bankrupt cities for payments

12/17/2012 | Sacramento Bee (Calif.) (free registration), The

The California Public Employees' Retirement System is waging a battle to ensure that cities that have declared bankruptcy continue to pay into the pension fund. But city bondholders say CalPERS is illegally trying to get ahead of other creditors, and at least one legal expert says the fight could go to the U.S. Supreme Court.

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Sacramento Bee (Calif.) (free registration), The

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