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Our last report noted that, while another status conference in this matter had been set for January 22, 2018, we expected to receive a proposed form of judgment from Ben Cooper for review.
In early November, we did receive a proposed form of judgment and over the next few weeks, several proposed forms of judgment were circulated among all counsel. After a number of discussions and email exchanges, all counsel agreed upon a final proposed Form of Judgment.
The parties filed a Stipulation agreeing to entry of the simultaneously filed
proposed Judgment on November 17, 2017. The Stipulation also noted that PSPRS was requesting that the Court enter the proposed Judgment by November 22, 2017, if
possible, so as to “facilitate employers compliance with the terms of the Judgment by the close of the calendar year 2017”. This language was important to PSPRS as having a signed judgment would assist PSPRS with putting pressure on those employers who have not yet refunded excess contributions to members.
On November 21, 2017, the proposed Judgment was granted as submitted. A copy is attached hereto. This judgment declares that the increase in employee contribution
rates for existing active Plan members above 7.65% violated Yeazell v. Copins.
Members must be refunded all amounts collected above the 7.65% contribution rate, and, pre and post-judgment interest must be paid at the rate of 5.25%. The interest runs on any amount of employee contributions in excess of7.65% from the date each amount was withheld from a member’s paycheck until payment of the amount, whether before or after entry of the judgment itself.
The entry of this Judgment concludes the litigation in this matter first filed almost six years ago (January 2012).