Cal-PERS perked up by fed settlement

Nov 19th, 2013 | By | Category: Budget, Courts

BudgetEgg[1],jpgJP Morgan has settled its federal issues over the MBS (mortgage based securities) meltdown and CalPERS and CalSTRS will get just about $300 million as a result.  That isn’t huge, but neither is it chump change.  This figure represents California’s cut of the $13 billion payout.

Clicking here will link to a Sacramento PRAVDA piece on this story.

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One Comment to “Cal-PERS perked up by fed settlement”

  1. JC says:

    And CalPers will still claim it cannot handle the immediate (January) distribution of the POFF. Hmmmmm. But at least 300mill will help them when the next wave of retirements hits them this month and the next.