Retirement Board addresses PERAC audit findings on benefit calculations
Milton Retirement Board moves to correct pension calculations following state audit findings. The Board unanimously endorsed a series of corrective actions to address calculation errors identified by PERAC for the 2019-2022 period, including recalculation of accidental disability and retirement
Retirement Board · Meeting of March 26, 2026
Milton Retirement Board moves to correct pension calculations following state audit findings. The Board unanimously endorsed a series of corrective actions to address calculation errors identified by PERAC for the 2019-2022 period, including recalculation of accidental disability and retirement allowances, procedures to notify members of overpayments and underpayments, and a commitment to strengthen compliance with anti-spiking rules. Retirement Director Jeanne Darcy was authorized to submit revised calculations to PERAC's Actuarial Unit for approval.
The Board also approved four new member enrollments, approved a pension payroll warrant totaling $996,906.51, and approved a $175,797.80 refund to Cicely Thomas.
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Source: the Retirement Board meeting of March 26, 2026, compiled from the official minutes.
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