Iowa Reports IPERS Breach

DES MOINES, Iowa -- Iowa's largest public employees' pension fund said Wednesday criminals have stolen hundreds of thousands of dollars in pension payments from 103 retirees' accounts.

The Iowa Public Employees' Retirement System (IPERS) serves employees of state and local governments and school districts.

IPERS said it learned about the breach on October 31. In a news release, IPERS said the thieves used stolen Social Security numbers and birth dates to register for IPERS online account access. They then changed direct deposit information, redirecting the benefit payments to a different financial institution. The thefts happened in mid-October.

IPERS said it has reissued the benefit payments to the correct financial institutions, and has suspended online account access.

IPERS has asked the FBI and the state Division of Criminal Investigation to investigate the thefts.

It said retirees should immediately confirm receipt of their October payment with their financial institution. And if a retiree suspects something is wrong they should call IPERS as soon as possible.

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