HARTFORD, Conn. (AP) – State Comptroller Kevin Lembo says a backlog of state employee retirement calculations dating back to 1992 has been eliminated.

Under the old system, state employees received a preliminary, slightly reduced estimated pension payment when they left state service.

That meant each retirement had to be manually audited to take into account things like salary history, overtime, hazardous duty pay, any starts and stops to state service and other factors.

Lembo, a Democrat seeking re-election this year, say the backlog has cost millions of dollars in interest over the years, ranging anywhere from $400,000
to nearly $850,000 each year.

Retirees had to pay the state back for any overestimated payments.

Lembo says his agency conducted an intensive review and recently finished shifting from a manual to an electronic system.

(© Copyright 2018 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)


Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Connecticut

CBS Entertainment
Storm Center: Latest School Closings
CBS Local App

Listen Live