MBTA PENSION FUND! WHAT A SHOCK!!!! (NOT!)

 

Over more than a decade, MBTA Police pension fund overpaid retirees by hundreds of thousands of dollars

Officials at the MBTA Transit Police pension fund overpaid retirees by nearly $500,000 at the same time it was receiving millions in money from the transit agency, according to a state investigation, which found officials mishandled the benefits of dozens of former Transit Police staff. The MBTA Police Association Retirement Plan for years operated with “no system” to track and end payments to retirees when they were no longer eligible to receive them, state Inspector General Glenn A. Cunha’s office found. That led the $94.5 million fund to make costly mistakes over 13 years between 2005 to 2018, during which it paid $470,217 more than it should have to two dozen retirees, Cunha said. Read the full story.  https://www.bostonglobe.com/2021/06/21/metro/over-more-than-decade-mbta-police-pension-fund-overpaid-retirees-by-hundreds-thousands-dollars/?s_campaign=breakingnews:newsletter 1:38 pm All Time1884652 Today882 Yesterday1058 This Month18619 Last Month28409