CalPERS Files Objection to San Bernardino Bankruptcy (CalPERS Press Release)

December 14, 2012 – The California Public Employees’ Retirement System (CalPERS) today filed a preliminary objection to the City of San Bernardino’s eligibility for bankruptcy. CalPERS requested that the City be given additional time to adopt a real pendency plan to solve its financial difficulties and is encouraging the court to press the City to improve its management and accounting procedures. “San Bernardino’s plan assumes that the City can stay in bankruptcy without paying its post petition obligations and complying with applicable laws, including laws pertaining to the payment of employee benefits,” said Robert Glazier, Deputy Executive Officer for External Affairs.

Link to Full Article: http://www.calpers.ca.gov/index.jsp?bc=/about/press/pr-2012/dec/objection-san-bernardino.xml

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