The ERB will be making changes to the rules for retirement in order to improve the long term solvency of the fund. The vote closed at 5pm Wednesday, November 16. Voters were asked to rank the six proposals, or to specify their own proposal using the categories provided.
The board put out a list of six proposals culled from a total of 42 proposed plans; the full set is now available as well. I have enough problems with reviewing six plans, so those are the only ones I’ll describe here. A description of the legislative history of the ERB plan since 2005 is available here (click on the full documents at the bottom of the page for the history.) The staff and board of the ERB have also said that they are soliciting alternatives if they meet the criteria for consideration. The member input form has a box where alternatives can be proposed.