Singing River Health System to Submit Pension Proposal

Singing River Health System plans to submit a pension plan proposal to the courts in hopes of resolving its retirement benefits crisis.
Under the newly revealed plan, retirees would receive their monthly benefits at a rate of 88 percent of their original benefit, as would active employees and for employees with 10 or more years of service.
As for former employees with less than 10 years, they would continue to receive a refund of their employee contributions plus credited plan interest.
Singing River CEO Kevin Holland says he believes this is a way to maximize benefits of their current and future retirees with bankrupting the health system.

Categories: Local News, News

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