PSPRS is aware that since the Arizona Supreme Court ruling in the Hall v. Elected Officials’ Retirement Plan (Hall v. EORP) case, members have many questions, and everyone is anxious to begin taking action in compliance with the court’s ruling.
PSPRS wishes to remind members who may be impacted that the legal process associated with the Hall lawsuit is far from complete. Members should consider avoiding personal financial decisions based on expectations associated with the Hall lawsuit and related litigation.
A few things to consider:
The Hall lawsuit impacts a select group of judges who are covered by the EORP retirement plan
There is a similar lawsuit for members of PSPRS (Parker v. PSPRS) that must be reconciled with the Hall decision
Court-ordered remedies for the Parker lawsuit could differ from those ordered in the Hall lawsuit
Hall lawsuit litigants, including EORP, the State of Arizona and the plaintiffs, have a short timeframe to ask the court to reconsider or provide further guidance on issues of the court’s opinion that are unclear or were not addressed
Following the court’s decision on reconsiderations, the lawsuit will be returned to the trial court, which will address unresolved issues including method of refunds, legal fees and applicable interest
The legal process associated with the Hall – and related Parker litigation – may not conclude quickly
Corrections officers covered by the CORP retirement plan are not impacted because their contribution rates were never changed in SB1609, which was challenged in Hall