San Bernardino Dumps CalPERS

``The City of San Bernardino has voted to become the first participant to dump CalPERS after the state's pension plan shocked participants by announcing contribution rates would rise by 61 percent over the next five years. The city's savings will grow from $4.7 million next year to $17.2 million a year by 2021. Each CalPERS participant that leaves will force pension contributions rates to rise even faster in what could result in a "death spiral."''