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Pensions May Be Key to Stockton Bankruptcy Exit

Pensions May Be Key to Stockton Bankruptcy Exit

Bankrupt Stockton says it does not want to cut its biggest debt, pensions promised employees, because the CalPERS plan is needed to be competitive in the job market, particularly for a short-handed police force in the crime-ridden city. But despite Stockton’s wishes, during a hearing Oct. 1 on Stockton’s “plan of adjustment” to cut debt […]