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Committee hears concerns over proposed settlement-fund waivers, holds Senate Bill 24-27 for legal review
Summary
Senate Bill 24-27, which would authorize settlement-fund adjustments and waivers for pension overpayments, prompted lawmakers to request legal review of a settlement agreement cited by the NMI Settlement Fund; the committee held the bill pending counsel review.
Senators discussed Senate Bill 24-27 on April 9, a bill that would amend the NMI settlement-fund statute to allow the fund to adjust benefit payments, correct calculation errors, and authorize waivers over repayments of retirement benefits.
Nut graf: The bill is intended to give the settlement fund authority to correct miscalculations and to permit waivers or adjustments where retirees were overpaid because of prior administrative errors. However, the fund’s trustee raised concerns…
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