Some DAK retirees were overpaid, one has 15 days to repay $30K - WECT TV6-WECT.com:News, weather & sports Wilmington, NC

Some DAK retirees were overpaid, one has 15 days to repay $30K

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Some retirees who were let go when DAK Americas closed its plant in Brunswick County earlier this year have to send part of their retirement check back because they were overpaid, the company said Monday. Some retirees who were let go when DAK Americas closed its plant in Brunswick County earlier this year have to send part of their retirement check back because they were overpaid, the company said Monday.

NAVASSA, NC (WECT) – Some retirees who were let go when DAK Americas closed its plant in Brunswick County earlier this year have to send part of their retirement check back because they were overpaid, the company said Monday.

About 30 retirees who accepted lump-sum payments were overpaid by Transamerica Retirement Solutions, a third-party company that administers retirement benefits for DAK, according to Ricky Lane, DAK Americas corporate communications manager.

Joe Bellamy, who worked about 20 years at DAK, received a letter Friday from Transamerica saying he owed $29,767.70, a fourth of his initial lump-sum payment. 

"I felt like someone was stealing," he said. "After a contract has been assumed to been taking place and then they come back and say, ‘well, we paid you too much.'" 

The Transamerica letter read, "If we do not hear from you within 15 days from the date of this letter, we will be obligated to pursue this as a collection matter." 

Bellamy said he plans to meet with an attorney Tuesday.  

Lane, the DAK spokesman, said the affected former employees will be able to "re-evaluate their retirement options." He believed they would have the option of switching from a lump-sum payment to monthly payments.   

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