(a)
Should any change or error in the records or in the computation of a member's benefits
result in any member or beneficiary receiving from the System more (overpayment) or
less than he or she would have been entitled to had the records or computation been
correct, the Board shall have the authority to correct such error and, as far as practicable,
adjust the payments in such a manner that the actuarial equivalent of the benefit,
to which such member or beneficiary was correctly entitled, shall be paid.
(b)
The Board is authorized to negotiate and compromise with a member with respect to
any amounts which the Board determines have been paid to the member in excess of amounts
to which the member is entitled. (20-81-3; 13-92-3; 4-16-3.)
