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




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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/


Lump Sum Payments:
 


Interest Applicable to All Lump Sum Payments. Applied to all lump sum benefits including death benefits, service allowances, disability allowances or other benefits in an amount greater than ten dollars ($10), CalPERS owes interest on all preretirement or postretirement lump-sum benefits that are paid by CalPERS more than 45 days after CalPERS' receipt of information necessary to determine the benefit. The interest owed on lump sum benefits including death benefits, service allowances, disability allowances is the greater of 6% or the net earnings rate (including capital gains and losses) in effect at the time that the payment is made. (Government Code, $21499.)

Please read the Complaint, here




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