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Retirement system to sue San Bernardino over pension payments

Fearing that more California cities will use bankruptcy as a way of side-stepping their pension obligations, CalPERS is threatening to sue San Bernardino.

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Perhaps recognizing that it needs to take action before other cities use bankruptcy as a way of shirking their pension obligations, California’s state-wide public retirement body has threatened to sue the city of San Bernardino for its missed pension payments.

According to Bloomberg, the California Public Employees Retirement System is attempting to sue the city, located to the east of greater Los Angeles, as it has so far missed $5 million in payments to the state pension fund.

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