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More Jobs, More Economic Development & Less Traffic Clickto toedit editMaster Mastertitle titlestyle style Click Public...

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More Jobs, More Economic Development & Less Traffic

Clickto toedit editMaster Mastertitle titlestyle style Click Public Employees’ Pension Reform Act (PEPRA) Annual Joint Meeting of the AC Transit Board of Directors and Retirement Board Click to edit Master text styles C. Standridge, General Counsel CLICK TODenise EDIT MASTER TITLE STYLE Hugo Wildmann, Retirement System Manager October 19, 2016

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of Lawsuit Click toStatus edit Master title style • Plaintiffs filed a motion to enforce Judge Mueller’s prior order, which was granted in part. • Plaintiffs also requested leave to file a supplemental complaint, which was granted. • DOL moved to dismiss the supplemental complaint &, in theMaster alternative, Click to edit text styles for summary judgment that it did not violate the Administrative Procedure Act. CLICK TO EDIT MASTER TITLE STYLE Plaintiffs filed a cross motion for summary judgment, opposed DOL’s motion for summary judgment & moved to amend their supplemental complaint. 10/6/2016

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of Lawsuit Click toStatus edit Master title style • With respect to SacRT, the DOL’s motion was denied, & the plaintiff’s motion was granted. • With respect to Monterey-Salinas Transit’s new employees, DOL’s motion was denied & the plaintiff’s motion was granted. • Click Thetoorder did text notstyles resolve the pending motions to the edit Master extent they concerned MST’s “classic employees”; CLICK TO EDIT MASTER TITLE STYLE nevertheless, with respect to these employees, the DOL’s motion could not be granted on the basis of its analysis of Section 13(c)(2). 10/6/2016

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of Lawsuit Click toStatus edit Master title style • Plaintiffs’ request to amend the supplemental complaint to allege a claim based on the DOL’s denial of certification under section 13(c)(1) with regard to MST’s classic employees was granted. • Plaintiffs’ amended supplemental complaint was filed Click to August edit Master29, text2016. styles DOL’s memo in support of its motion to dismiss was filed on September 6th and CLICK TO EDIT MASTER TITLE Sacramento’s response to the order on theSTYLE summary judgment was also filed on September 6th. • A status conference is set for November 4, 2016. 10/6/2016

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of Grants Click toStatus edit Master title style 13c Exposure: • The District received the DOL “condition” letters again this year. • The District sent the same letter to DOL as was authorized by the Board last year. edit Master styles despite the competing • Click Thetofunds aretext flowing “condition” CLICK TOletters. EDIT MASTER TITLE STYLE

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PEPRA Future Click to edit Master title style • It is anticipated that it may take months before a decision is issued by Judge Mueller. • The matter will then be appealed to the 9th Circuit and it is anticipated that the loser will then request a full court opinion. It is likely this will be another 6-8 months. Click to edit Master text styles • The loser will probably then go to the US Supreme CLICK TO EDIT MASTER TITLE STYLE Court. We could be years from a final decision.

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Issues ClickImplementation to edit Master title style Long Term Areas of Concern: • Return/refund of contributions • Benefit Statements • Actuarial Issues • What if a “PEPRA employee” retires before this issue Click to edit Master text styles is resolved?

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