“The bottom line is that Stockton, especially in its currently fragile state, cannot be the lone vanguard for pension reform. Our competitive disadvantage in hiring and retaining qualified skilled employees is already daunting, and abrogating existing pension obligations through our bankruptcy process, without action by the State to level the playing field so that we can stay competitive as an employer, would be devastating to our core mission and obligation: to provide the necessary services to support the health, safety and welfare of our citizens.”
—City Manage Bob Deis, in a 2012 letter to Gov. Jerry Brown and other state officials. The letter, as much as any document, lays out the city’s argument that a wounded David cannot take on the CalPERS Goliath.
Read it here. Stockton Letter Re CalPERS_August_2012