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Philadelphia Archdiocese Freezes Teachers' Pension Plan
Business Management Daily 
Mar. 9, 2014 "The Philadelphia Catholic Archdiocese has frozen a defined-benefit pension plan for its 8,500 parochial school teachers and support staff. The move comes as the archdiocese wrestles with a $150 million pension deficit.... Without the weight of those accruing benefits, the archdiocese hopes to close the deficit over time by continuing to contribute 4.5% of each employee's paycheck." MORE >> |
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