Which life expectancy factors will be used to determine the amount of my monthly repayment – the blended life expectancies from the last Milliman study or a new experience study done by Mercer?
A. For the Strunk/Eugene revised benefit calculations, PERS will use the life expectancy factors in effect at the time of the original retirement calculation. For calculating the actuarial reduction to recover overpayments, the current life expectancy will be used to determine the factors that will be used, which will further moderate the effect of the actuarial reduction on the revised monthly benefit by spreading the repayment over a longer time period.
