CHICOPEE, Mass. (WWLP) – The Hampden County Regional Retirement Board (HCRRB) held a special meeting via phone conference on Wednesday to address issues from a recent audit report.
The Public Employee Retirement Administration Commission’s (PERAC) audit unit completed an examination of the Hampden County Regional Retirement System covering the period from January 1, 2014 to December 31, 2017. The audit found multiple financial inconsistencies including social security expenses, lodging expense disbursement, overtime costs, health insurance payments, and exceeding their budget.
There are also concerns about ethics violations and illegal personal financial gain.
During the conference call, retirement board members answered questions from member representatives. The board recognized the inconsistencies and admitted that mistakes were made, offered that some practices were created before current board members were on the board, and promised that there will be corrections.
The HCRRB is expected to meet in 30 days to follow up on what steps have been made to correct problems. PERAC Audit staff is expected to follow up in six months to ensure appropriate actions have been taken regarding all findings.
The 22News I-Team has been following this story and will provide updates as they become available.