Suit Against CalPERS to Force Payment of Interest on Withheld Funds & Benefits




News
 

Read the First Amended Complaint here.

On October 29, 2013, Plaintiffs' filed their Opposition to CalPERS Demurrer to First Amended Complaint, Notice and Motion to Request for Judicial Noitce in Support of Opposition, and Exhibit 1-6.

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On October 29, 2013, Plaintiffs' filed their Opposition to CalPERS Demurrer to First Amended Complaint, Notice and Motion to Request for Judicial Noitce in Support of Opposition, and Exhibit 1-6.

To read Plaintiffs' Opposition Click here.

To read Plaintiffs' Request for Judicial Notice Click here.

To read Plaintiffs' Exhibits 1-6 Click here.

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On September 16, 2013, Plaintiffs filed their First Amended Complaint.

Please read the Complaint, here.

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On March 8, 2013, Plaintiffs filed a Complaint seeking interest on monies, funds, benefits or contributions that CalPERS held or controlled. The proposed class action (BC502628) is filed in Los Angeles Superior Court, and assigned to Judge Shepard Wiley, Jr. in Department 311, in the Central Civil West courthouse.

On March 21, 2013. Judge Wiley set the initial status conference for June 12, 2013.

For more information, enter BC502628 at www.lasuperiorcourt.org/civilcasesummarynet/ui/


Late Payments
 


CalPERS' has "a fiduciary duty to provide timely and accurate information to its members" on matters related to their vested pension rights. (City of Oakland v. Public Employees' Retirement System (2002) 95 Cal.App.4th 29, 40; emphasis in original.)

In violation of its constitutional, statutory and other fiduciary duties, CalPERS is failing to timely inform Plaintiffs that CalPERS accounts for the monies, funds, benefits or contributions without adding, accruing, crediting, or paying interest.

Kesterson and other class members have vested in their benefits, yet CalPERS failed to timely pay them. For example, Kesterson and the other class members have timely reported the Members' death to CalPERS, submitted the necessary information and/or documents required by CalPERS to prove their entitlement to such benefits, and were thereafter statutorily entitled to timely receive the benefits to which they were entitled. However, CalPERS withheld and paid no benefits for many months. CalPERS failed to pay the death benefit timely and also failed to add, accrue, credit or pay interest as required.

Mr. Kesterson died in September 2011. Mrs. Kesterson thereafter timely notified CalPERS of Mr. Kesterson's death and her entitlement to the applicable death benefits and provided CalPERS with the documentation and information it requested to verify her beneficiary status. CalPERS, however, did not pay Mrs. Kesterson any of the death benefits to which she was entitled until approximately April 2012.

Please read the Complaint, here




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