Comment on Bankruptcy Judge Hammers Unions by Allowing Stockton Pension Cut

Bankruptcy Judge Hammers Unions by Allowing Stockton Pension Cut

In what will be a devastating blow to California public employee unions, U.S. Bankruptcy Judge Christopher Klein ruled in the Chapter 9 municipal bankruptcy of the City of Stockton that pensions managed by the California Public Employee Retirement System, known as CalPERS, can be cut in bankruptcy “like any other garden variety” unsecured debt.

 

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