CalPERS Seeks Permission to Sue Bankrupt San Bernardino Over Missed Pension Payments
The California Public Employees' Retirement System, the nation's largest public pension, makes frequent appearances in Recorder sibling publication The Litigation Daily as a lead plaintiff in securities class actions. But late Tuesday CalPERS made an unprecedented move in a very different venue: the municipal bankruptcy of San Bernardino. In an 11-page filing, CalPERS' lawyers at K&L Gates asked a federal bankruptcy judge in Riverside for permission to sue San Bernardino for falling behind in its contributions for municipal employee benefits. News of the filing was first reported by Reuters.
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