Bankrupt San Bernardino, California, voted on Monday to present a plan
to a bankruptcy judge that seeks to balance its budget through deferring
payments to the state's public employee pension fund and to the city's
bondholders, reports Reuters.
Reuters continues:
Read more: http://www.economicpolicyjournal.com/
Reuters continues:
San Bernardino has already halted its biweekly $1.2 million payment to the California Public Employees' Retirement System (Calpers) since it filed for bankruptcy protection on Aug. 1.
Read more: http://www.economicpolicyjournal.com/
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