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Stockton bankruptcy is hard hit for city retirees

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Posted: Thursday, June 28, 2012 12:00 am | Updated: 6:05 am, Thu Jun 28, 2012.

When Stockton becomes the largest U.S. city ever to file for bankruptcy, it will strike a hard blow to residents, especially city employees and retirees whose health benefits and pensions helped drive the city toward insolvency.

City Manager Bob Deis said late Tuesday that officials were left with little choice but to recommend bankruptcy after failing to hammer out deals with creditors to ease the city's $26 million budget shortfall.

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Welcome to the discussion.

2 comments:

  • Darrell Baumbach posted at 1:41 pm on Mon, Jul 2, 2012.

    Darrell Baumbach Posts: 9405

    inevitable consequence of unions in california... unsustainable

     
  • Jerry Bransom posted at 7:46 am on Thu, Jun 28, 2012.

    Jerry Bransom Posts: 363

    Failure of Leadership plain and simple. You get what you vote for. This should be a wake up call to people who refuse to look at ALL government employees and hold them to the same rules we all must live by.

     
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