Since the money's been paid back and the town's pension fund is "whole" again, New Canaan's Pension Committee has reportedly decided against launching a criminal investigation into the undue pension payments former First Selectman Jeb Walker received.
According to a report in the New Canaan News, the committee, which includes current First Selectman Robert Mallozzi, met behind closed doors for 45 minutes Tuesday for an executive session with other town officials including town CFO Dawn Norton, Board of Finance member Mary Cody, Tony Ryan of the fire department, and John Milligan of the police department.
Walker along with former Director of Finance Gary Conrad reportedly pushed through a modification to the pension plan that decreased the number of years required for a town official to be completely vested from five to four. The change, which passed through the Town Council and Board of Finance, allowed Walker to receive substantially more money under his pension plan as a fully vested retiree.
An October report from Garrett A. Denniston, a lawyer from an outside law firm the town hired to examine various New Canaan pension decisions, concluded "it is possible that the conduct constitutes a criminal violation such as larceny or theft.” Town attorney Ira Bloom later concluded that as per the town charter it would be the Pension Committee's decision whether to bring charges.
Following Tuesday's executive session, Cody explained that because Walker had made full restitution of the $4,300 in overpayments, and because "the pension fund itself is whole ... it hasn't lost anything," the Pension Committee deemed that no further action was necessary, according to the report.
For more check out the New Canaan News report.
