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Herald Fire borrows $460,000 to end CalPERS contract

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Posted: Friday, July 6, 2018 11:00 am

Unable to keep up with their payments, the Herald Fire Protection District Board of Directors voted unanimously on June 21 to terminate their contract with the California Public Employees’ Retirement System, which manages public employee pensions.

Lindsey Liebig, president of Herald Fire’s board of directors, said the final decision came after more than a year of negotiations with CalPERS failed to result in a payment plan that the fire district could afford.

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