Final Ruling on PSC Litigation

Date: Nov 13, 2008

 

The Court issued its final ruling on November 13, 2008. In it, the Court ordered the SDCERS Board to set aside the Board's November, 2007 decision to continue to amortize the PSC funding shortfall through the City's existing unfunded actuarial liability.

The ruling may impact any City of San Diego Member who purchased service credit on or after August 15, 2003 at the old rates.

 Click here to read the Final Ruling

The SDCERS Board of Adminstration will consider the ruling at its November meeting and review its options with legal counsel. One option could be an appeal of the ruling.

It is important to understand that, at this time, no benefits have been affected.

SDCERS will continue to keep its Members updated on this issue.

 
(Note: this litigation does not pertain to Port or Airport Members.)




Document Under Categories: Litigation, Purchase of Service (PSC)

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