In response to your request for an Actuarial Impact Statement on HB280 (relating to the overpayment of benefits of a public retirement system in reliance of an audit)

The Pension Review Board has determined that House Bill 280 would prohibit a public retirement system from seeking reimbursement from a recipient when an overpayment has been made by a system in reliance on an audit. The public retirement system would be permitted to seek reimbursement of any overpayment from the auditor authorizing the overpayment, including action to recover against the auditor's bond. The bill, if enacted, is not expected to have any significant actuarial effect on a retirement system.