The state retirement board has paid out more than $687,000 to deceased pensioners.

That's according to a report released Wednesday by state Auditor Suzanne Bump.

The audit also found that the agency underpaid pensioners whose designated beneficiaries had died by more than $271,000.

Bump says the Massachusetts State Retirement Board made payments to 105 deceased pensioners during the two-year audit period. The individuals had been dead for a median of 103 days and received an average overpayment of more than $4,500.

Bump attributes the problem to a failure to follow new requirements to gain access to the Social Security Administration's Death Master File.

She says the retirement board has corrected the problem, recovered nearly $609,000 of the payments made in error and restored the underpaid benefits.