Heilbrunn v. State Employees' Retirement Board

OPINION BY

Judge LEAVITT.

Allan H. Heilbrunn (Heilbrunn) has petitioned for review of an adjudication of the State Employees’ Retirement Board (Retirement Board) that refused to recalculate the present value of his retirement annuity benefit. Before the Retirement Board, Heilbrunn contended that the assumed rates of return on investments in the State Employees’ Retirement Fund, which were used to calculate the present value of his annuity benefit, were too aggressive and improperly compounded. Had the Retirement Board accepted Heilbrunn’s contentions, the present value of his annuity benefit…