Posts Tagged ‘pension’
The Milwaukee County Board’s finance committee on Thursday decided against reducing future pension overpayments amounting to an estimated $10.3 million to 217 current and future retirees.
The committee instead unanimously recommended approval of a Pension Board proposal to retroactively change county ordinances that would result in keeping the improperly high payments flowing to the group. The vote was 8-0 to adopt the Pension Board’s proposal.
The committee rejected a counterproposal by County Executive Chris Abele to reduce future pension overpayments to the group.
This month, Abele stepped back from his April plans to recover as much as $26 million in past overpayments and interest and offered what he described as a compromise. The recovery effort was approved by the County Board in 2007 but never implemented.
Read more by Don Behm of JSonline.com