RECOMMENDATION(S): (CONT'D)
Hinman, P. 6384:1044 - $28,804.44
Hearst, P. 6390:1044 - $37,217.16
Slauson, D. 6387:1044 - $31,170.73
FISCAL IMPACT:
100% Hospital Enterprise Fund (145000) expense of up to $115,629.54.
BACKGROUND:
The County received a demand for recoupment of pension over-payments paid to four retired Contra Costa County physicians due to erroneous pensionable compensation reporting to the Contra Costa County Employees' Retirement Association (CCCERA). The letter, dated April 5, 2016, is attached. This action directs the Auditor-Controller to pay up to $115,629.54 pursuant to CCCERA's demand of April 5, 2016.
CONSEQUENCE OF NEGATIVE ACTION:
Until the issue is ultimately resolved, the County may continue to accrue interest at the annual compounded rate of 7.25%.