Update on FRS Legal Action

March 15, 2012

As you may have heard, the Circuit Court of the Second Judicial Circuit ruled against FRS in regards to the July 1, 2011 changes that required mandatory 3% employee contributions and a reduction in the cost-of-living adjustment for pension plan members. An appeal to this ruling is in process and therefore no action will be taken at the present time by FRS to revise the current requirements for employee contributions and the present cost-of-living calculation.

What does this mean to you? Currently FRS is making no changes to benefits or deductions, therefore the mandatory 3% employee contributions must be continued during the appeals process. We will continue to monitor the situation and will notify you as information becomes available to us.