(Download) "Murray v. Public Employees Retirement Board" by Supreme Court of Texas # eBook PDF Kindle ePub Free
eBook details
- Title: Murray v. Public Employees Retirement Board
- Author : Supreme Court of Texas
- Release Date : January 12, 2010
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 69 KB
Description
During 2001 and 2002, the Variable Annuity Account (Variable Account) of the Public Employees Retirement Fund sustained losses, and the Public Employees Retirement Board charged a combined total of roughly $1,964,000 against the principal of the Variable Account for the Variable Accounts pro ratashare of the administrative expenses of the Public Employees Retirement System (PERS) for those years. Petitioner, a PERS member who had allocated 75 percent of his employee retirement contributions to the Variable Account, challenged the legality of those charges in a contested case proceeding. The board ultimately issued a final order affirming those charges because it concluded that the Variable Accounts pro ratashare of PERS administrative expenses in 2001 and 2002 was required, by statute, to be paid from Variable Account principal. Petitioner sought judicial review of that order, asserting that the board erred in its interpretation of ORS 238.260 (2001) and ORS 238.610 (2001). We conclude on judicial review that the board erred in its interpretation of those statutes, and we reverse the boards order and remand for reconsideration.
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