Baltimore City Schools failed to make more than $5 million in retirement contributions to hundreds of employees, according to a new report by the Office of the Inspector General.
That report, published today, also found senior management for City Schools had been aware of the missing retirement contributions since 2019.
The IG began investigating in July after receiving a complaint that City Schools had not initiated retirement contributions for more than 570 employees hired between 2014 and 2021, who were eligible for the City’s Retirement Savings Plan. According to the complaint, this resulted in more than $5 million of missed employee deductions and employer contributions for City Schools employees.
The City of Baltimore Employees' Retirement System (BCERS) manages the retirement programs available to City employees.... Read More: FOX45