HUNTINGTON, W.Va. — A Huntington audit has uncovered the city’s fire pension board failed to properly calculate retirees’ pensions, resulting in overpayments for over 25 years.
City Manager Cathy Burns said the city overpaid about 50 fire department retirees. Burns said miscalculations started in 1990 when the city moved to a “confusing” state formula.
Burns said an auditor randomly selected three 2015 retirees and found they’ve been overpaid $300 to 1,000 a month.
Huntington announced a nearly $5 million deficit in January due to multiple factors, including increases in the city’s fire and police pension contributions.
Officials say the Municipal Pensions Oversight Board implemented the correct formula; however the incorrect one is being used on the identified accounts.
Burns says a bill awaiting the governor’s signature will help rectify errors.
— The Associated Press