What happens if the law which provided the 2008 ERF is found to be invalid?
The law which provided this benefit was part of the legislation that ended gain sharing. The law contained directions on what will happen should the law be invalidated: • Plan 2 and 3 members of PERS, SERS and TRS who retired using the 2008 ERF and have received at least one retirement payment will keep their benefit as calculated. • Plan 2 and 3 members of PERS, SERS and TRS who at the time of the court action have not retired, or have retired but have not yet received at least one retirement payment, will be subject to the early retirement factors (three percent reduction) that were in place before the new law went into effect.
