A $228 Million Dollar Mistake, Yes, You Heard That Right…$228 Million Dollar Mistake Made For The Orange County, California Pension System, And It Wasn’t Found For 8 Years

Posted By on February 26, 2011

So…Inquiring minds want to know what other computer systems are using this same software and why it takes 8 years to figure this out.  We think there’s more to this story!

SANTA ANA, Calif. (KABC) — A $228 million mistake has landed two employees for Orange County’s pension system on paid leave.

It’s all linked to a computer error dating back eight years ago, according to the Orange County Register.

In 2003, new software was installed which miscalculated some rates for payments to the pension fund.

The Orange County Register reported that pensions themselves shouldn’t be affected by the mistake, but it will result in some hefty catch-up bills for agencies countywide. The Orange County Fire Authority, for example, will have to pay $76 million to make up for eight years in which funds went uncollected for special pay stipends for paramedics and others with specialized jobs, the newspaper reported.

The retirement agency is allowing the firefighters to pay the bill over a 25-year period beginning in July.

Orange County Employees Retirement System Assistant CEO Steve Cadena and Finance Officer Michelle Williamson have been placed on paid leave since Feb. 18, as the agency conducts an audit.

The Associated Press contributed to this report.

Categories: Commentary, Economy, Finance, National News, Pensions and Retirement, Wall Street
Tags: ,

About the author

Comments

53 Responses to “A $228 Million Dollar Mistake, Yes, You Heard That Right…$228 Million Dollar Mistake Made For The Orange County, California Pension System, And It Wasn’t Found For 8 Years”

  1. Yong Lu psu says:
    November 19, 2016 at 9:57 PM

    Yong Lu psu

    I am Eric Lu Penn state, I am in Penn State. I am Yong Lu psu.

  2. Don Tigert says:
    December 21, 2016 at 7:33 PM

    Don Tigert

    Look this ripoffreport from ripoffreport.com

  3. Free Classified Ads says:
    January 30, 2017 at 8:01 AM

    free classified site like craigslist

    Classifieds Ads sees all free,} knows all.Try sell and buy you’ll like it.Pets,Business,Real Estate,Vehicles ads shows good taste,Our jobs offer is bigger!

  4. click says:
    April 27, 2017 at 8:39 AM

    here

  5. Autoapprove List says:
    June 21, 2017 at 9:32 AM

    …Links

    […]Great weblog right here! Additionally your website loads up very fast![…]

  6. domino qiu qiu says:
    July 19, 2017 at 2:52 AM

    Trackback

    […]Wow, amazing blog layout! How long have you been blogging for?[…]

  7. domino qiu qiu says:
    July 19, 2017 at 5:39 AM

    …Click here for or more Information

    […] What host are you the use of? Can I am getting your associate link on your host? I desire my website loaded up as fast as yours lol[…]

  8. domino qiu qiu says:
    July 19, 2017 at 7:08 AM

    Trackback

    […]you make blogging glance[…]

  9. domino qiu qiu says:
    July 19, 2017 at 7:19 AM

    …Click here for or more Information

    […]Wow, wonderful blog layout! How long have you been blogging for?[…]

  10. domino qiu qiu says:
    July 19, 2017 at 7:31 AM

    …Links

    […]Great weblog right here! Additionally your website loads up very fast![…]

  11. domino qiu qiu says:
    July 19, 2017 at 7:44 AM

    …Awesome website

    […]Wow, marvelous weblog format! How lengthy have you ever been running a blog for?[…]

  12. sbobet wap says:
    July 19, 2017 at 7:12 PM

    …A Friend recommended your blog

    […] What web host are you the usage of? Can I get affiliate hyperlink in your host? I wish web site loaded up as quickly as yours lol[…]

  13. togel online says:
    July 19, 2017 at 10:41 PM

    …Click here for or more Information

    […]The entire glance of your site is wonderful, let smartly as the content![…]

  14. domino qiu qiu says:
    July 23, 2017 at 7:10 AM

    …Websites you should visit

    […]I am no longer certain the place you’re getting your information, but great topic.[…]

  15. sbobet mobile says:
    August 5, 2017 at 9:04 PM

    …Visitor recommendations

    […]Wow, fantastic weblog structure! How lengthy have you ever been running a blog for?[…]

  16. game dewa poker online says:
    February 2, 2018 at 6:54 PM

    …For further Information click here

    […] What host are you using? Can I am getting your associate link on your host? I want site loaded up as fast as yours lol[…]

  17. agen bola sbobet says:
    February 2, 2018 at 9:09 PM

    …Take a look for more Information on that topic

    […] What host are you using? Can I am getting your associate link on your host? I want site loaded up as fast as yours lol[…]

  18. situs pokeronline says:
    February 2, 2018 at 9:28 PM

    …Recommended websites

    […]The full look of your website is magnificent, let neatly as the content material![…]

  19. chihuahua puppies lover says:
    May 6, 2018 at 1:34 PM

    Deonne Philo

    hello, this is probably the best article i have ever read, i feel great. If you like me, please support me here:

  20. pralnia ko³obrzeg says:
    December 14, 2018 at 8:21 PM

    … [Trackback]

    […] Read More on|Read More|Read More Informations here|There you will find 2231 additional Informations|Informations to that Topic: thestatedtruth.com/?p=16473 […]

  21. website says:
    December 15, 2018 at 4:10 AM

    … [Trackback]

    […] Find More here|Find More|Read More Infos here|There you can find 17659 additional Infos|Infos to that Topic: thestatedtruth.com/?p=16473 […]

  22. executive resume service says:
    December 19, 2018 at 3:32 AM

    … [Trackback]

    […] Find More here|Find More|Read More Infos here|Here you will find 8123 more Infos|Informations to that Topic: thestatedtruth.com/?p=16473 […]

  23. bulk email verifier says:
    December 28, 2018 at 5:30 PM

    … [Trackback]

    […] Find More on|Find More|Read More Infos here|There you will find 63346 more Infos|Informations on that Topic: thestatedtruth.com/?p=16473 […]

  24. PK screening says:
    January 8, 2019 at 2:44 AM

    … [Trackback]

    […] Find More on|Find More|Find More Informations here|Here you can find 7804 additional Informations|Infos to that Topic: thestatedtruth.com/?p=16473 […]

  25. Graphite powder says:
    January 15, 2019 at 10:01 PM

    … [Trackback]

    […] Find More on|Find More|Read More Informations here|There you can find 50817 more Informations|Infos on that Topic: thestatedtruth.com/?p=16473 […]

  26. Inhibitor assessment in Caco-2 says:
    January 16, 2019 at 9:03 AM

    … [Trackback]

    […] Find More here|Find More|Read More Infos here|Here you will find 37298 additional Infos|Informations to that Topic: thestatedtruth.com/?p=16473 […]

  27. pk protocol reviews says:
    January 22, 2019 at 1:30 AM

    … [Trackback]

    […] Find More on|Find More|Read More Infos here|There you will find 19665 additional Infos|Informations to that Topic: thestatedtruth.com/?p=16473 […]

  28. noosa electrician says:
    January 23, 2019 at 8:57 PM

    … [Trackback]

    […] Find More on|Find More|Find More Infos here|There you can find 76337 more Infos|Infos on that Topic: thestatedtruth.com/?p=16473 […]

  29. GVK Biosciences says:
    January 28, 2019 at 10:24 PM

    … [Trackback]

    […] Find More on|Find More|Read More Informations here|Here you can find 66597 more Informations|Infos on that Topic: thestatedtruth.com/?p=16473 […]

  30. sen kaşındın amcık says:
    February 1, 2019 at 1:31 PM

    … [Trackback]

    […] Find More here|Find More|Read More Infos here|Here you will find 28575 more Infos|Infos to that Topic: thestatedtruth.com/?p=16473 […]

  31. ways to make $100 a day on your iphone says:
    February 5, 2019 at 1:59 AM

    … [Trackback]

    […] Find More on|Find More|Read More Infos here|Here you will find 59656 more Infos|Infos on that Topic: thestatedtruth.com/?p=16473 […]

  32. GVK bio sciences says:
    February 6, 2019 at 1:07 PM

    … [Trackback]

    […] Find More on|Find More|Find More Informations here|Here you will find 51892 more Informations|Infos on that Topic: thestatedtruth.com/?p=16473 […]

  33. Ankara eskortlar says:
    February 9, 2019 at 4:37 PM

    … [Trackback]

    […] Find More Information here on that Topic: thestatedtruth.com/?p=16473 […]

  34. invivo research says:
    February 12, 2019 at 6:24 PM

    … [Trackback]

    […] Information on that Topic: thestatedtruth.com/?p=16473 […]

  35. what is a pk study? says:
    February 13, 2019 at 5:54 AM

    … [Trackback]

    […] Here you can find 78719 additional Information to that Topic: thestatedtruth.com/?p=16473 […]

  36. brokers says:
    February 17, 2019 at 7:03 PM

    … [Trackback]

    […] Find More here on that Topic: thestatedtruth.com/?p=16473 […]

  37. jetsmarter route reviews says:
    February 19, 2019 at 10:14 PM

    … [Trackback]

    […] Read More Information here to that Topic: thestatedtruth.com/?p=16473 […]

  38. online reputatation management company says:
    March 1, 2019 at 7:28 AM

    … [Trackback]

    […] Information on that Topic: thestatedtruth.com/?p=16473 […]

  39. Free UK Chat Rooms says:
    March 9, 2019 at 8:08 PM

    … [Trackback]

    […] Info on that Topic: thestatedtruth.com/?p=16473 […]

  40. dryer vent hose cleaner says:
    March 10, 2019 at 2:15 PM

    … [Trackback]

    […] Find More Information here to that Topic: thestatedtruth.com/?p=16473 […]

  41. รับทำ SEO says:
    March 23, 2019 at 12:24 AM

    … [Trackback]

    […] Find More on on that Topic: thestatedtruth.com/?p=16473 […]

  42. Sampan Boat Trip says:
    March 25, 2019 at 8:17 PM

    … [Trackback]

    […] There you will find 76997 additional Information on that Topic: thestatedtruth.com/?p=16473 […]

  43. www.accolade.consulting says:
    April 20, 2019 at 1:36 AM

    … [Trackback]

    […] Read More Information here to that Topic: thestatedtruth.com/?p=16473 […]

  44. Red tea detox says:
    April 21, 2019 at 11:08 AM

    … [Trackback]

    […] Find More on that Topic: thestatedtruth.com/?p=16473 […]

  45. Nike Air Max 95 says:
    June 5, 2019 at 5:38 PM

    Nike Air Max 95

    Nike Air Zoom Spiridon Hombre

  46. novo estilo sapatilhas nike air max tr17 para homem cinzento cool castanho gum claro says:
    June 18, 2019 at 5:22 AM

    novo estilo sapatilhas nike air max tr17 para homem cinzento cool castanho gum claro

    serre t锚te avec faux cheveux et foulard pour fille. a vendreceinture homme salvatore ferragamoporte cartes gastinne renette rouge sacs homme rougepantalon de jogging femme en jersey bouclette avec ceinture plate g茅mo

  47. fitflop f sporty ii lace up sneakers in iridescent silver the boot room says:
    June 18, 2019 at 10:06 PM

    fitflop f sporty ii lace up sneakers in iridescent silver the boot room

    columbia sportswear switchback ii jacket hoodedforeo luna mini 2 ab 93hugo boss 1932 vs 2012diadora returns from the 80s for a new generation uk fashion

  48. jt exteriors says:
    June 19, 2019 at 3:31 AM

    … [Trackback]

    […] Here you will find 46807 more Info to that Topic: thestatedtruth.com/?p=16473 […]

  49. dressy jackets sitealiexpress.com says:
    July 3, 2019 at 6:15 PM

    dressy jackets sitealiexpress.com

    2017 ankle strap crystal gladiator sandals new bling sexy high heels transparent shoes platform sandals casual gold shoes womancartoon pink cat soft silk heart camera hole phone case for iphone 6 6s 7 plus girls glitter phone back covers for iphone 6 p…

  50. blonde milf ficken says:
    July 4, 2019 at 9:59 AM

    … [Trackback]

    […] Read More here on that Topic: thestatedtruth.com/?p=16473 […]

  51. bota feminina cano longo marrom sandra feminino says:
    July 4, 2019 at 8:57 PM

    bota feminina cano longo marrom sandra feminino

    e mbroidered asics chaussures de running gel quick33 femme rose bleu asics outlet asics fitness auxtee shirt 脿 t锚te de mort jeans industrynike air force 1 啪enske tenisice novo eu 40lunettes de soleil ray ban rb3550 m茅tal noir mat vente nouveau en ligne

  52. damski str贸j k膮pielowy pula wmns p p su lime aquawave says:
    October 8, 2019 at 2:40 PM

    damski str贸j k膮pielowy pula wmns p p su lime aquawave

    na de aardbeving in 2010 werden 106 kinderen uit in nederland opgevangen door nederlandse beeld anpverkocht 19 f ck nijmegen fundawitte knuffelbeer hartje kopenkinderjeans maat 86 online shop

  53. touch sport bh mit aufschrift t shirts says:
    October 16, 2019 at 10:36 PM

    touch sport bh mit aufschrift t shirts

    58462 girls rhythmic moves gymnastics leotardmala in the mix tote chanelboston lg n at deri erkek anta seyahat bagaj seyahat antas b眉y眉k hakiki deri duffle anta erkeklersapato boneca salto grosso lara vazado

Leave a Reply

You must be logged in to post a comment.

«     »

Copyright © 2024 The Stated Truth