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  • CALPERS FACES ‘VERY SERIOUS RISK’ IN $1.2 BILLION LONG-TERM CARE CASE, JUDGE WARNS

CalPERS faces ‘very serious risk’ in $1.2 billion long-term care case, judge warns

AUGUST 15, 2019 | by Wes Venteicher | THE SACRAMENTO BEE

“A judge is urging CalPERS to settle a major lawsuit over price increases for its long-term care insurance policies, suggesting the system could have to pay a lot of money if the lawsuit goes to a jury trial in October. The lawsuit, filed in 2013, alleges CalPERS violated contracts when it hiked premiums by 85 percent for about 100,000 public employees after promising stable prices in marketing materials.”

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