If you wish to help support the ongoing costs of running this blog and you haven't purchased anything through Amazon on this site, please consider a small donation to defray basic costs. It isn't free to me to keep this site current. I have to pay for bandwidth, costs of duplicating documents when they exist only in paper form, and keep printer ink around to read lengthy documents, and the time to do the research. Thank you. Marc Feldesman, site owner and publisher.
Oregon PERS Information is Copyright Marc R. Feldesman (c) 2003 - 2017 All Rights Reserved. Posts may not be reprinted without prior consent.


Please don't post your comments more than once. I moderate all comments and a delay between posting and appearing is part of the drill here. I get to all comments in due time. Please don't continually repost the same comment. Only one will be posted. Thank you.

Friday, May 04, 2007

Cutting Board Blues

PERS began mailing some invoices to retirees who had taken lump sum distributions (either single or double) upon retiring. These invoices demand full payment of amounts reputed to have been overpaid as a result of the 1999 earnings crediting decision. For many people, the demand for full payment constitutes a severe, if not crippling, financial imposition. The PERS Coalition, through its attorney Greg Hartman, has published some general observations and discusses the various options available to individuals receiving these invoices. You can read this memo here. The memo isn't entirely helpful and advises members faced with these invoices to seek advice from their own attorneys. Nevertheless, regardless of what the attorney advises, the options listed in the Coalition memo seem to be exhaustive. I can't think of any other option that isn't listed.

No comments: