What happens to state retirement if California files bankruptcy?
Tags: bankruptcy, retirement, state files, state of california
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on Friday, April 9th, 2010 at 3:31 pm and is filed under Bankruptcy Files.
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April 9th, 2010 at 3:32 pm
The state does not hold your retirement account. PERS is a COMPLETELY separate legal entity. At worst, if the state declares bankruptcy, then future contributions from the state will probably cease.
April 9th, 2010 at 3:32 pm
I would consult an attorney if you’re concerned. I don’t know where you are in California but I had a good experience with Sexton Advisory Group and Walters and Ward in San Diego.