ERS seeks to repeal new law

Advertiser Staff

The state Employees' Retirement System yesterday submitted legislation to repeal a newly enacted change in the way it calculates employee benefits.

The proposed amendment to remove the new method, which streamlines benefit calculations, is a reversal of position for the $8 billion retirement system.

The system last year campaigned for the new method, saying it would make benefits easier to compute. But the police union, which represents several thousand members of the ERS, objected, saying it would reduce officers' benefits.

In December, the ERS board of trustees voted to recommend repeal of the most controversial sections of the new law. They approved the wording of the new legislation on Monday.