Bankruptcy
Jun. 7, 2014
Stockton, creditor clash in court over pensions
If a judge sides with a request by Franklin Templeton Investments, a Stockton creditor fighting the city's bankruptcy plan, experts say the ruling could set a precedent that could undermine the security of pensions across the country.
Daily Journal Staff Writer
SACRAMENTO - On the final day of Stockton's bankruptcy trial, a judge gave little indication of whether he'd push for a cut in public pensions as a part of the city's restructuring plan.
But Judge Christopher Klein, who'd previously indicated he's open to such a precedent-setting move, did express concern late Wednesday about the impact pension modification might have on city employ...
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