CALPERS SUES COMPTON OVER PENSION CONTRIBUTION

CALPERS sued the City of Compton over missed contributions to the pension fund.  Compton missed a $2.7 million payment to CALPERS in September.

CALPERS has also objected to the City of San Bernardino’s bankruptcy proceeding.  CALPERS has argued that the San Bernardino should not be able to use bankruptcy to eliminate its pension obligations.

The City of Stockton is also in bankruptcy but continues to pay CALPERS.  Bond creditors are trying to convince a bankruptcy judge to halt Stockton’s payments to CALPERS.