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Retirement Planners and Administrators (RPA)
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Defined Benefit Consultant/Enrolled Actuary Pension Plan Specialists, PC
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Participants Seek Final Approval of $98.3 Million Settlement of 'Church Plan' Case with Bon Secours Health System
Cohen Milstein Oct. 18, 2017 "Thousands of class members affected by seven Bon Secours Health System Inc. pension plans ... asked a Maryland federal court [on Oct. 13] to give final approval to a settlement that would require the health care organization to provide $98.3 million to bolster funding. The settlement agreement calls for the hospital to contribute $14 million a year for the next seven years to the seven plans at issue ... In addition, the settlement calls for the hospital to pay another $300,000 to benefit about 500 people who have unique circumstances under one of the plans." [Hodges v. Bon Secours Health System, Inc., No. 16-1079 (D. Md., proposed settlement submitted Oct. 13, 2017)] |
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