What was Judge Lipscomb’s original ruling?
There were two major issues Judge Lipscomb decided in his 2002 ruling in the City of Eugene case that impact us today. 1. The PERS Board credited too much money to regular (fixed) accounts in 1999 and should have saved more money for a rainy day (We were credited with 20% earnings and Judge Lipscomb believed it should have been 11.33%). 2. If a member had money invested in the variable account and retires on money match, employers will only match what that employee would have earned in the regular (fixed) account. This change became effective for all retirements beginning July 1, 2004 as a result of the Settlement Agreement.
