What was gain-sharing?
Gain-sharing was a mechanism enacted by the Legislature in 1998 for increasing retirement benefits based on investment returns. When the Legislature enacted gain-sharing, it reserved the right to amend or repeal the act in the future. In 2007, the Legislature repealed the distribution of extraordinary gains after 2008. Members and retirees of Plans 1 and 3 filed lawsuits to challenge the repeal. Please contact the Department of Retirements Systems for the current status of the lawsuits.
