Bankrupt San Bernardino Withholds $5 Million From Calpers
This article is for subscribers only.
Bankrupt San Bernardino, California, owes the California Public Employees’ Retirement System $5.3 million, of which $1.2 million is delinquent, a spokesman for the largest U.S. public pension fund said.
San Bernardino has failed to make required pension payments to the $245.8 billion pension fund since filing for Chapter 9 protection Aug. 1, a Calpers spokesman, Brad Pacheco, said by e-mail.