Posts Tagged: clarifying

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Can public pensions be cut in bankruptcy?

Bus stop in Stockton, Delta College. (Photo: San Joaquin RTD)

Calpensions: Stockton filed a revised debt-cutting plan last week that could lead to a deal with a holdout creditor, Franklin bonds, possibly enabling the city to emerge from bankruptcy without cutting pensions. But however that plays out, a federal judge may rule on whether public pensions issued through the California Public Employees Retirement System can be cut in bankruptcy like other debts.

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