Retired Employees of San Diego County, Inc.
Honoring Yesterday. Protecting Tomorrow.

CalPERS Lawsuit Update

Thousands of CalPERS members could get $30,000 or more in long-term care lawsuit settlement.

CalPERS has agreed to pay up to $2.7 billion to settle a lawsuit over big price hikes the retirement system imposed on long-term care policyholders eight years ago, according to a Tuesday announcement.

The proposed agreement, which requires a judge’s approval, would settle a class-action lawsuit policyholders filed in 2013. Several policyholders filed the lawsuit after receiving notices that their premiums would rise 85% in two increases in 2015 and 2016.

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