August 17, 2018 / 2:03 AM / 8 months ago

9th Circuit revives Wash. teachers' lawsuit over interest on retirement accounts

A U.S. appeals court on Thursday revived a lawsuit by teachers in Washington who say the state’s method for calculating interest on their retirement accounts was unconstitutional.

A unanimous three-judge panel of the 9th U.S. Circuit Court of Appeals said a federal judge was wrong to rule that the teachers’ 2014 lawsuit was premature because the state Department of Retirement Systems (DRS) was undertaking a review of the way it calculated interest for teachers who switched from one retirement plan to another.

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