​CalPERS prevails in judge's ruling on Stockton bankruptcy

A bankruptcy judge approved a plan Thursday that will allow the city of Stockton to fully fund pension payments for public retirees while reducing payments to bond investors. The ruling by U.S. Bankruptcy Judge Christopher Klein arrives nearly a month after the same judge decided that Stockton could legally walk away from its pension obligations. City officials have maintained that cuts to pension payments will cause public employees to leave the city for areas that honor the benefits provided under…
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