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Another Health System Settles Church Plan Challenge
planadviser; registration may be required 
May 11, 2017 "A preliminary settlement has been reached in a case challenging the 'church plan' status of pension plans for Franciscan Missionaries of Our Lady Health System.... According to the settlement agreement, Franciscan will contribute $125 million to the plans in the next five years, pay $450 to each of the more than 2,000 participants of the plans who accepted a lump-sum buyout of their balance in 2016, and guarantee participants will be paid the pension benefits they were promised for the next 15 years." MORE >> |
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