Defined Benefit Pension Summary Plan Description

21. What happens if it is determined that my benefit payments were overpaid?

If the Administrative Office determines that you received a pension overpayment, the Board of Trustees will recover the overpayment in the following order of priority:

  1. The Board of Trustees will seek repayment in one lump sum payment;
  2. If a lump sum payment is not agreed to, the Board of Trustees will seek repayment, including interest, through an installment payment agreement; or
  3. If a lump sum or installment payment agreement is not agreed to, then your future benefits will be reduced so that the actuarial present value of the reduction is equal to the amount of the overpayment, plus interest.

Notwithstanding the above, the Board of Trustees reserves the right to file a lawsuit or pursue other legal action to recover the overpayment.