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Suit alleges CalPERS misled customers about long-term care insurance
Sacramento Bee

When CalPERS imposed an 85 percent rate hike on its long-term care insurance program, it caused a fuss among customers and some legislators.

Now it’s sparked a lawsuit.

A trio of law firms filed suit against CalPERS on Tuesday, saying the pension fund misled public employees and retirees into buying the coverage by promising their premiums would be stable. The firms are seeking to have the suit certified as a class action on behalf of more than 125,000 affected policyholders.