Hearing Date Set For Decision Regarding Active DROP Members with Affected PSC Contracts

Date: Mar 22, 2011

 

A hearing has been set for April 22, 2011, regarding the matter of certain Active DROP Members with affected Purchase of Service Credit (PSC) contracts, related to the PSC Correction process.

SDCERS' outside counsel is seeking clarification from the trial judge who made the initial ruling in the PSC case, to determine if members who were already in DROP as of November 20, 2007 can be treated as if "retired" for purposes of the Court's ruling. If the judge agrees with this proposed clarification at the April 22 hearing, and rules that these Members can be treated as if "retired," this group of DROP participants would be excluded from the PSC Correction process.

SDCERS will not be proceeding with correction procedures for the group of people in question until after the April 22 hearing. If you are in this group and are excluded as a result of that hearing, you will receive a letter from SDCERS explaining the outcome. If you are not excluded, you will receive an Options Letter with the PSC Correction options available to you.

For more information, click on the link below to read the letter mailed in February to affected Active DROP Members:

 Letter to Affected Active DROP Members




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

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