Vallejo first to test no pension cut in bankruptcy
What happens when a bankrupt city does not cut its largest debt, pensions, is getting its first test in Vallejo, which has higher average pensions and higher CalPERS rates than the two larger cities still in bankruptcy, Stockton and San Bernardino. Vallejo was the forerunner, choosing not to try to cut pensions before exiting a … Continue reading Vallejo first to test no pension cut in bankruptcy
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