NYC makes erroneous retiree payments to police officers and firefighters worth $300M

May 1, 2014 Associated Press
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New York City Comptroller Scott Stringer says the city accidentally made duplicate deposits of nearly $300 million into the accounts of retired police officers and firefighters.

Stringer said Thursday that the payments to 31,019 individuals will be electronically reversed on Friday.

He said his office is “deeply concerned” about the process that led to the error. He said he will work with Mayor Bill de Blasio’s office to investigate the cause.

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The payments of $298,475,644 from the city’s Financial Information Services Agency were made overnight Wednesday.

They were duplicates of annual pension payments to the retirees.

Stringer says the individuals who received the payments are being advised not to spend the money.


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