In general, how are various retirement dates and/or classes of members affected byStrunk/Eugene?
A. The combined application of the Strunk/Eugene decisions will generally affect the following Tier One groups in the manner described based on the effective retirement dates: 1. Active and inactive Tier One members who have not yet retired: the regular accounts of these members will be corrected to reflect 11.33 percent earnings crediting for 1999 instead of the 20 percent that was originally credited. 2. April 1, 2000 through March 1, 2004 retirements: these retirees have received all payable earnings for 2003 and 2004 but will have their 1999 regular account earnings corrected using 11.33 percent instead of 20 percent. Many in this group were subject to the COLA freeze that was effective July 1, 2003. 3. April 1, 2004 through December 1, 2004 retirements: these retirees need to be credited with 8 percent earnings for 2003 and a prorate of 8 percent for 2004 to the date of retirement. These retirees were not subject to the COLA freeze but will have their 1999 regular account earnings
