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First Church Plan Case Settles
Fiduciary Matters BlogLink to more items from this source
May 12, 2015
"[T]his settlement appears to be a significant victory for Ascension Health. The plaintiffs have agreed that they will no longer claim that the plan is subject to ERISA unless there is a major change in the law from either the Supreme Court, Congress, or the IRS. In exchange, Ascension Health has agreed to contribute $8 million to the plan, although we have no idea how much, if anything, they were already planning on contributing this year or how that amount compares to previous years.... Notably missing from the settlement is, what we believe was the point of the lawsuits in the first place, any funding standard that closely resembles that found in ERISA." [Overall v. Ascension Health, No. 13-cv-11396-AC-LJM (E.D. Mich. May 11, 2015)]

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