Don't Touch Government Pensions Judge Says In Stockton RulingMark Melin
As public pension funds face underfunding problems across the country, all eyes in the pension fund community kept one eye on results from Stockton, California’s plan to shortchange bond investors while shielding public pensions.
Stockton to pay bond investors pennies on the dollar
The court ruling allows the bankrupt city in the shadows of Los Angeles to pay bond investors pennies on the dollar while keeping intact pension plans for its public employees. “This plan, I’m persuaded, is the best that could be done in terms . . .
This content is exclusively for paying members.
If you are subscribed and having an account error please clear cache and cookies if that does not work email [email protected] or click Chat.