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SSM Health Care Reaches $60 Million Settlement in Church Plan Case
Pensions & Investments
June 10, 2019 "Participants in several SSM Health pension plans in Illinois, Missouri, Oklahoma and Wisconsin claimed in a lawsuit originally filed in 2016 ... that SSM Health did not meet statutory requirements to qualify as a church plan exempt from [ERISA].... The settlement requires SSM Health to fully fund the plan for 10 years, contribute $15 million per year to the plan from 2019 to 2022 and make additional payments to workers who received their retirement savings in a lump sum." MORE >> |
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