308 Retired NM Educators Have Not Returned ERB Overpayments - $813,713

Jan Goodwin

Alamogordo Daily News - The New Mexico Educational Retirement Board has filed lawsuits against 24 people who received more than $181,000 in overpayments due to a computer error at the teacher pension fund. The Albuquerque Journal reports that Jan Goodwin, the board's executive director said Friday the legal action was a "last resort" in an attempt to recoup the overpaid amounts, plus interest, from pension fund beneficiaries who have not yet repaid the money.

The agency had sent each of the 693 affected beneficiaries up to four letters requesting repayment, and officials say more lawsuits are expected in coming weeks.

"We have contacted them on multiple occasions asking them to pay back the money," Goodwin said.

More than half of the $1.7 million in erroneous interest payments -- ranging from 66 cents to $306,000 -- has been collected since the written requests were sent, Goodwin said.

However, $813,713 is still outstanding, and 308 of the 693 affected beneficiaries have not paid back any of the money. Read full story here: News New Mexico

308 Retired NM Educators Have Not Returned ERB Overpayments - $813,713