Sacramento Inaccurately Calculated City Employees’ Pension Payments, Audit Finds
An outside audit has found that the Sacramento City Employees Retirement System overpaid some recipients by a total of $2.8 million and underpaid other beneficiaries by a total of $247,000 over the past three years. Officials estimate that the system underpaid about 5% of its members since 2005 and overpaid nearly 18% of members in that time.
- "Sacramento Miscalculated Years of Pension Payments for Some City Retirees" (Lang, "The Public Eye," Sacramento Bee, 7/18).