Litigation
Aug. 8, 2013
CalPERS sued over management of fund for long-term care insurance
A class action suit filed Tuesday alleges that California Public Employees' Retirement System badly mismanaged a $3.6 billion fund for long-term care insurance.
By Chase Scheinbaum
Daily Journal Staff Writer
A class action suit filed Tuesday alleges that California Public Employees' Retirement System badly mismanaged a $3.6 billion fund for long-term care insurance, leaving its policyholders with two bad choices: Either pay hiked-up rates or abandon policies they have paid into for two decades. The lawsuit, filed in Los Angeles County Superior Court, names two plaintiffs, Elma Sanchez and Holly Wedding, and asserts that the class ...
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