CALPERS Wins. Stockton Exits Bankruptcy. CALPERS retains Stockton.

A court had denied CALPERS creditor status in Stockton’s bankruptcy, which was causing a $1.6 Billion issue with CALPERS. [Information Intelligence 10.1.2014]

This hiccup was resolved last week when the bankruptcy judge approved Stockton’s plan to exit bankruptcy.  

From CALPERS statement: “The judge recognized that the city’s employees and retirees have already made significant concessions” and “that further impairing pensions would harm them even more.” [WSJ]