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Bank error siphons $189M from retired NYC teachers

November 6, 2009 By ANDREW SMITH  andrew.smith@newsday.com

Tens of thousands of retired New York City schoolteachers, some of whom live on Long Island, found on Friday their most recent pension payments had been spirited out of their bank accounts by a computer glitch.

"Not a good day," said Michael Mulgrew, president of the 200,000-member United Federation of Teachers, which started getting calls from retired union members as early as 7 a.m. He said...

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