As of this morning we have been notified that the Plaintiffs have filed a notice of appeal. The payment of the unreduced retirement benefit to eligible members will be subject to the final outcome of any appellate process.
The decision to retire is typically difficult but this has been a nightmare for everyone involved in the roller coaster ride of Chapter 45, 55/25.
Members still have until August 16th, 2010 to submit a letter or pull the letter that was already submitted. The ESB board meeting is scheduled for August 25th, 2010. I need to stress that anyone on that board agenda will be officially retired and therefore you must be certain of your decision.
I urge you to continue to watch our website and the NYSTRS for any breaking news.
Members considering this incentive now that it has been appealed really need to weigh all of the possible outcomes both pro and con and may wish to consult an attorney.
Feel free to call me if you have any questions, I can't tell you that you should or should not retire under this Law, that is a decision that you personally need to make based on the facts and your personal situation. Our job is to make sure that you are informed and have the information necessary to make that informed decision.
Kudos to ESB for continuing to work with us and trying to keep all options open as we get down to the wire with dates. It has really been daily phone calls back and forth and collaboration with a capital C.
Thank you, Thelma
