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California pension system loses round in San Bernardino bankruptcy fight

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RIVERSIDE, Calif. — California's biggest public pension system has lost its appeal of the ruling that allowed the city of San Bernardino to file for bankruptcy. A bankruptcy judge rejected the request by the powerful California Public Employees' Retirement System to challenge the city's bankruptcy eligibility at the U.S. 9th Circuit Court of Appeals. The Sacramento Bee says the decision Friday...

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