June 19, 2017
Hall-Parker refund updates for EORP/PSPRS members
Members and employers can view contribution refund amounts
PSPRS is pleased to inform members that individual excess contribution refund amounts are now available in the Members Only portal on our website. Members will need to create an account if you don’t have one already.
Please be advised that not all members impacted by the Hall and Parker lawsuits will be able to immediately view their pre-tax refund amount. Several hundred refunds must be individually researched to account for issues like employee transfers and to ensure payment accuracy for our members. We expect to have all refunds posted within the next several days and appreciate our members’ patience and service to Arizona.
We ask our members to consider the following:
- Only Tier 1 members of PSPRS and EORP (membership on or prior to July 19, 2011) are eligible for excess contribution refunds
- Posted individual refund amounts are subject to change due to PSPRS receiving additional data from employers and other factors
- Most changes to refund amounts are expected to be minor and have the effect of increasing refund amounts, however slightly
- Applicable pre-judgment interest will be communicated for both Hall and Parker members as soon as judged upon by the court
- Individual refund amounts posted by PSPRS do not identify members who may have taken any of the various types of leave (ex. military or industrial) for which the employer may have contributed on behalf of the member
- It will be up to employers to choose whether to reduce Hall-Parker-related refunds to these particular employees in order to recover excess contributions made by the employer