Bankrupt San Bernardino Will Resume Payments to Calpers
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San Bernardino will resume paying into the California Public Employees’ Retirement System in July, ending an almost yearlong hiatus that began when it entered bankruptcy last August, according to a spokeswoman for the fund.
The city’s obligation to the largest U.S. pension, known as Calpers, is $25.5 million for fiscal 2013, which ends June 30, according to fund data. While that’s just 0.3 percent of all employer contributions to the system, fund and city documents show it’s about 21 percent of San Bernardino’s revenue.