The California Public Employees’ Retirement System (CalPERS) is seeking to sue bankrupt San Bernardino over missed pension payments, the second potentially precedent-setting fight the fund picked with a California city this year, Bloomberg News reported yesterday. San Bernardino cannot use the Bankruptcy Code to justify its failure to make at least $5 million in payments, CalPERS, the biggest U.S. public-employee pension fund, said in court papers filed yesterday. The motion relies on arguments the fund is also making in the bankruptcy of Stockton, Calif.
