Jackson County Attorney Billy Guice Speaks on SRHS Pension Plan

The Singing River pension plan was unsustainable from the beginning, that’s what attorney Billy Guice is saying.
The Jackson County Board of Supervisors hired Guice to investigate the under-funded plan, now his investigation has determined the hospital system did not invest wisely, focusing on high risk investments instead of stable ones.
Guice tells News 25 when it became apparent that Singing River could no longer contribute their part of the pension plan, they gave up. He also points out that under the terms of the pension plan, Singing River could have terminated it back in 2009: “Nothing anyone could have done about it. It’s in there in writing. There are other grounds for termination, some automatic. Had they basically owned up that we’ve lost this money and for this reason we’re going to terminate, we would not be sitting here today.”
Guice says ultimately Singing River System stopped contributions to the pension funds because of the ever climbing pension costs, losses suffered in the market and the health system’s overall financial position.

Categories: Local News, News

Leave a Reply

Your email address will not be published. Required fields are marked *