![]() The lawsuit also alleges that the 85% premium increase breaches the fiduciary duty CalPERS owes to Class Members. The plaintiffs assert that under the contracts between CalPERS and Class Members, CalPERS is not permitted to increase premiums for these reasons. Specifically, the lawsuit alleges that in October 2012, CalPERS adopted an 85% rate increase for certain policy holders that was allegedly necessitated by investment losses in the LTC Program and CalPERS’ decision to change its investment strategy. What is this case about? The lawsuit generally alleges that it was improper for CalPERS to impose an 85% rate increase on individuals who purchased LTC1 and LTC2 policies issued through CalPERS’ Long Term Care insurance program. Jones, Judge of the Los Angeles County Superior Court. ![]() The judge assigned to handle this case is the Honorable Ann I. Ultimately, however, the court is there to protect the interests of the class and to make sure that the representation by class counsel is fair and adequate. Who represents the interests of the Class? The court appoints “class representatives” and “class counsel” to pursue the legal claims on behalf of the class. This avoids the need for a large number of people to file similar individual lawsuits. What is a class action lawsuit? Class actions are lawsuits in which the legal claims and rights of similarly situated groups of people are decided in a single court proceeding. ![]() Or if you'd like to have $4.50 deducted monthly from your CalSTRS check, please download and complete the paper form.
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