I had a similar problem. There is a "sensor" in the belt buckle receptical (the slot you click the belt into). I sprayed CONTACT CLEANER into this "slot", and NOW the belt retracts just like normal, and automatically tensions itself against your chest when the belt is on.
I don't know if this will help, but it certainly won't hurt anything to try.
I don't know if this will help, but it certainly won't hurt anything to try.