| Strunk Case Attorney Fees/Costs |
|
|
 |
|
|
The Oregon Supreme Court awarded fees and costs to the plaintiff’s attorneys in the Strunk case. The court’s decision affects PERS benefit recipients whose cost-of-living adjustments (COLAs) were frozen by the 2003 legislation.
The Strunk decision voided the COLA freeze (effective August 1, 2003) for Tier One members who retired under the Money Match calculation with effective retirement dates on or after April 1, 2000, and before April 1, 2004.
At the direction of the Oregon Supreme Court, the attorneys representing this group of retired members are entitled to $763,367, to be paid out of the restored COLA adjustments.
In accordance with the court’s direction, PERS will calculate the COLA amount each recipient would have received July 1, 2004. The fee award amount will then be allocated in proportion to the amount of the increase each person would have received. For example, retiree A, who would have received a $60 COLA, pays a proportional part of the award that is twice that of retiree B whose COLA was $30.
The amount deducted will be based on a benefit recipient’s July 1, 2004 benefit payment and the COLA amount effective July 1, 2004 (payable August 1, 2004). The one-time deduction for attorney fees and costs in the Strunk case will affect the July 1, 2008 PERS benefit that is payable August 1, 2008.
Read the Oregon Supreme Court’s decision regarding attorney fees/costs in the Strunk case and the Court’s Stipulation Regarding the Allocation of an Attorney Fee Award.
|
|
|
|
