X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

July 9 (Bloomberg) — The California Public Employees’ Retirement System may not deserve special protection when a city goes bankrupt, a federal judge said in a case pitting public pension advocates against Wall Street creditors.

U.S. Bankruptcy Judge Christopher Klein questioned whether Calpers should be considered a creditor with rights over a city’s assets in the $1.18 billion bankruptcy of Stockton, California. Klein’s comments yesterday, which he said he may include in a final ruling as early as October, contradict Calpers’ main claims in Stockton’s reorganization.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

Dig Deeper

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.