San Jose Overpaying Retirees: Audit

Monday, Jan 4, 2010  |  Updated 9:59 AM PDT
View Comments (
)
|
Email
|
Print
San Jose Overpaying Retirees: Audit

SAN JOSE, Calif. -- An audit has found some retired city employees in San Jose are receiving higher pension payments than they are entitled to, an error that would cost the city over a million dollars.
     
The audit is expected to be considered by the board of trustees for the police and firefighter pension plan this Thursday.

It reviewed pensions for more than a 100 of the nearly 500 employees who retired in 2007 and 2008 and found 13 employees were being overpaid.

The audit says those 13 cases alone would cost the city more than $1.5 million over the retirees' life expectancy. It is now calling for a review of the thousands of employees who have retired since 2001.

City officials say they agree with the audit's findings and will determine if the pensions can be adjusted.

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
Bay Area Proud
Bay Area Proud is NBC Bay... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out