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CalPERS CEO Warns Pension Uncertainty Threatens Public Employees

October 10, 2014
Writing in the Sacramento Bee on Oct. 9, CalPERS CEO Anne Statusboll makes the case that if pensions are altered under bankruptcy, public employees pay the ultimate price. Ms. Statusboll’s op-ed, “If pensions are cut, the losers are public employees,” addresses the effect of U.S. Bankruptcy Court Judge Christopher Klein’s decision last week in the city of Stockton bankruptcy proceedings.
 
The judge ruled that pensions can be reduced as part of Chapter 9. Ms. Statusboll argues that public pensions are a form of deferred compensation, paid into by both the employee and employer.


 
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