§ 3-528. CORRECTION OF ERRORS.

If more or less than the correct amount of contributions required by members, or the city, is paid, proper adjustment shall be made in connection with subsequent payments, or such adjustments may be made by direct cash payments between the members, or the city, and the Board. Adjustments to correct any other errors in payments to or by the Board, including adjustments of contributions, with interest, which are found to be erroneous as the result of corrections of dates of birth, may be made in the same manner. Adjustments to correct overpayment of a retirement allowance may also be made by adjusting the allowance so that the retired person or the retired person and his beneficiary, as the case may be, will receive the actuarial equivalent of the allowance to which the member is entitled. Underpayments or delayed payments or corrected payments or similar adjustments to a member or person shall include interest, where appropriate, at the interest rate adopted by the Board. (Added Ord. 5666, 1959; Am. Ord. 95-40, § 3, eff. 6-23-95).