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Solicitor: 375 tax appeals pending; county 457 plan litigation seeks recovery after alleged $20 million loss
Summary
Beaver County solicitor reported 375 tax-assessment appeals ahead of January court schedules and described litigation after an alleged embezzlement in a county-participating 457 retirement plan that reportedly involved about $20 million across eight plans, with roughly $2 million recovered so far.
Beaver County’s solicitor told commissioners on Nov. 19 that the county is handling an unusually high number of tax-assessment appeals and is involved in ongoing litigation over an alleged embezzlement from a county-participating retirement plan.
“We're at 375 appeals,” the solicitor said, adding that the cases are scheduled to begin before judges in January. He characterized the count as likely the final total for the current reassessment cycle.
Separately, the solicitor addressed coverage in the Pittsburgh Post-Gazette about an alleged theft from an investment manager tied to a 457 voluntary retirement plan in which county employees may choose to participate. “Approximately $20,000,000 was stolen between those 8 plans,” he said, and added that the estate and investigators have recouped “roughly about $2,000,000.”
The solicitor said the case is pending before a judge who is being asked to sign off on a proposed distribution of recovered assets. He said the county has retained an attorney who specializes in this area to assist employees and the county through the litigation and distribution process.
The update did not specify which employers or plan administrators were involved, nor did it provide a timetable for distributions beyond the judge’s pending sign-off. The solicitor said the county has been keeping affected employees informed as information becomes available.
The board also moved into an executive session later in the meeting; the solicitor had requested a personnel-related executive session earlier in the proceedings.
