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Important Developments: May 18, 2009 Ruling by Fulton County Superior Court and Schedule for Payments

(Updated July 22, 2009)

On May 18, 2009, the Fulton County Superior Court entered an Order of Final Approval approving the parties' proposed resolution leaving in place the rulings of the Georgia Court of Appeals as the final rulings in the case. (You may view and download a copy of the Order of Final Approval by clicking the link).

Under the Order of Final Approval, living class members who did not receive payments during 2008 are entitled to recover any underpayments beginning April 4, 1998 and continuing until the time of payment in 2009. The estates of deceased retirees and beneficiaries are entitled to recover underpayments beginning April 4, 1998 and continuing until the dates of the retirees' or beneficiaries' deaths. Interest will be added to the back underpayments.

In addition, living retirees and their beneficiaries will be entitled to future increases resulting from calculations using the correct mortality tables, which should commence with the August, 2009 payment.

It is anticipated that lump sum checks for back underpayments will be issued by the end of July, 2009. Checks will be mailed to class members by the Garden City Group, Inc. pursuant to Court Order. It is also anticipated that additional interest owed under the Court of Appeals’ ruling to class members who received payments in 2008 should be paid within the next several weeks.