pension plan

[rekennedy]

What is the name of your state? California
I retired from Union Bank of California 04/01/2001, on 04/12/2006 subject Bank informed me that they miscalculated my pension beneft by not deducting the amount being paid to my ex-spouse under a qualified domestic relation order dated 07/14/89. They want me to repay them the overpayment of $16,593.57 in a lump sum or reduced future benefits.

Since it took them over five years to find their mistake are they prevented from collecting this overpayment by a statute of limitations?



















californiaWhat is the name of your state?

 

[ecmst12]

I could be wrong, but I think the statute of limitations for debts begins sometime after you are first notified of the debt.....

 

[Betty]

I remember reading about an employee who had to pay back excess pension benefits because of a miscalculation by the employer. They were, however, in that case able to take a deduction on the amt. paid back on their income tax. Maybe someone else will have more info for you.