§2260.1. Correction of administrative error
A. Except where otherwise prohibited in this Chapter, the director may correct any administrative error and make all adjustments relative to such correction. The director shall correct such error based solely on sufficient documentation, which shall be submitted to the board of trustees at the next board meeting, whether such administrative error was committed by the system or otherwise.
B. If an underpayment of benefits is due to an administrative error committed by system staff, the correction of such error pursuant to Subsection A of this Section may include the payment of interest at a rate not to exceed the system's valuation interest rate or the judicial interest rate, whichever is lower.
Acts 2003, No. 719, §1, eff. June 27, 2003; Acts 2016, No. 231, §1, eff. May 26, 2016.
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