"Stockton bankruptcy ruling could deal blow to CalPERS, public pensions"
http://www.latimes.com/business/la-fi-stockton-bankruptcy-ruling-20141001-story.html
How might this ruling affect those who haven't taken their UCRS pensions yet? The idea is that federal bankruptcy law supersedes California pension protections.
1 comment:
The LLCs don't have a lot in assets, but they also don't have any debts. Hard to see an FFRDC filing for bankruptcy. Perhaps if there are massive PAAA fines for WIPP contamination, LLNS will run the experiment and we can all observe the outcome.
In the meantime, this ruling will probably go through at least a couple levels of appeal.
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