Washington, DC - Social Security overpayments are hard to recover-so hard, in fact, that the Social Security Administration overpaid, big time, to get a bunch of recent overpayments back.
The agency spent a whopping $323 million to recover $128.3 million in overpayments made between 2008 and 2013, reports the Association of Mature American Citizens.
The Office of the Inspector General caught the mega-million dollar slip up in a recent audit. "SSA attempted to collect overpayments regardless of the amount. In some cases, the value of the overpayment was less than what SSA spent to collect the overpayment. Therefore, for some overpayments, collection was not always cost-beneficial," according to the OIG report.
"This resulted in SSA spending over $213.6 million more than it collected."