Favorable Court of Appeals Decision for the State of Missouri Deferred Compensation Plan

On March 8, 2011, MOSERS received notification from the Office of the Attorney General that a three judge panel from the Western District Court of Appeals overturned the ruling of the Cole County Circuit Court regarding the Deferred Compensation Plan Nationwide lawsuit and ruled as follows:

Judgment shall be entered in favor of the State and against Nationwide on Count I of the State's Petition in the amount of $18,586,379.65, plus statutory interest thereon pursuant to section 408.020, RSMo 2000, at the rate of 9% per annum from and after June 2, 2006.

This is good news for the Deferred Compensation Plan. This is one more step toward judicial resolution. It may be some time before there is a final resolution of the matter.

Please see Updates on the Nationwide Lawsuit for more information on this litigation dating back to June of 2006.