FULTON COUNTY, Ga.,None — Thousands of retired Fulton County employees will be getting money back after the county settled a lawsuit which claimed it underpaid pension benefits for almost 20 years.
The suit, originally filed six years ago by 43 retirees, claimed the county's pension board miscalculated and underpaid their benefits from September 1991 to November 2010. Because of state laws, the settlement only includes benefits dating back to 2002. That suit later became a class action and included more than 2,000 retired county employees. Both sides settled for about $17 million.
"I'm ecstatic," said retired county nurse Wilma Williams.
She worked for Fulton County for 24 years and is listed as one of the plaintiffs.
"I think it's wonderful. I'm really excited that we have retirees who are watchdogs, who really help take care of the financial end of things," Williams told Channel 2's Richard Elliot.
Fulton County issued a statement reassuring taxpayers that the $17 million settlement will not hurt the county or its pension fund.
"This settlement will in no way affect the solvency of Fulton County's pension fund," said Fulton County spokeswoman Jessica Corbitt-Dominguez. "The required statement constitutes approximately 1.5 percent of the total assets in the pension fund, which has total assets of approximately $1.1 billion."
Fulton County Retirees Association President Sally Smith, also a plaintiff in the lawsuit, praised the settlement.
"Of course we're excited about it, and we're grateful to the people who brought the action," said Smith. "And we're grateful Fulton County is doing the right thing."
Fulton County said all the plaintiffs should receive that $2,000 check within the next 30 days. The check amounts will be based on former salaries and time of employment.