U Of Wisconsin System insurance, pension overpayments uncovered by audit
- A financial audit for fiscal 2011-12 released Thursday by the Legislative Audit Bureau revealed that the University of Wisconsin System made $15.4 million in overpayments for health insurance premiums, as well as another $17.5 million in overpayments to the state retirement system due to miscalculated retirement contributions.
- $8 million of the health insurance premium overpayments were for 924 employees who had been terminated, and the audit's findings prompted State Sen. and Joint Legislative Audit Committee Co-Chairman Rob Cowles to call for a more comprehensive review of the UW System's new Human Resource System.
- All $17.5 million of the pension overpayments were recovered, but as of October, the UW System has only been able to recoup $228,000 of the $8 million in insurance overpayments made to terminated employees, and spokesman David Giroux says the system is "working aggressively" to recover the rest.
From the article:
The findings prompted Sen. Rob Cowles (R-Allouez), co-chairman of the Joint Legislative Audit Committee, to call for a more comprehensive review of the state university system's new Human Resource System because the audit identified a lack of oversight and monitoring of fringe benefit processes. The audit also raised concerns about weaknesses in security over the system that could increase the risk of inadvertent, erroneous or unauthorized changes to UW System payroll and benefits. ...
- University Business Read More
Follow Roger Riddell on Twitter