Posted on May 16, 2023
Navy retirees see cuts to monthly benefits, must repay $7M after system overpayment error
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"The federal government is attempting to recoup almost $7 million from more than 1,200 people who retired from the Navy after it discovered a system error had given them larger monthly payments than they were due for almost four years, officials said Monday."
Navy retirees see cuts to monthly benefits, must repay $7M after system overpayment error
Posted from nbcnews.com
Benefits
Retirement
Posted 12 mo ago
Responses: 4
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That's a really big whoops on the part of the Navy. Utterly avoidable had someone done their freakin' job...correctly.
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LTC Eugene Chu Bull$hit...
..."After a system error resulted in larger monthly payments than were due for almost four years, the U.S. Navy is seeking to recover nearly $7 million from over 1,200 retirees.
During August 2019 to February 2019, 1,283 retirees were impacted by the error, which was first reported by the Navy Times. It is estimated that about $6.8 million worth of debt has been incurred, ranging from $35 to over $70,000.
It plans to recover the money, and this week will send official debt notifications explaining how to pay the debt or request a waiver to affected retirees. The Defense Finance and Accounting Service takes care of payments to staffers, as well as retirees, at the Department of Defense. Due to the corrected error, some retirees will be billed tens of thousands of dollars, and all will see a reduction in their monthly retirement income."...
..."After a system error resulted in larger monthly payments than were due for almost four years, the U.S. Navy is seeking to recover nearly $7 million from over 1,200 retirees.
During August 2019 to February 2019, 1,283 retirees were impacted by the error, which was first reported by the Navy Times. It is estimated that about $6.8 million worth of debt has been incurred, ranging from $35 to over $70,000.
It plans to recover the money, and this week will send official debt notifications explaining how to pay the debt or request a waiver to affected retirees. The Defense Finance and Accounting Service takes care of payments to staffers, as well as retirees, at the Department of Defense. Due to the corrected error, some retirees will be billed tens of thousands of dollars, and all will see a reduction in their monthly retirement income."...
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