To All SPUH Retirement Plan Participants:
I was invited to meet with representatives from SPUH to discuss the proposed changes to the retirement plan. The meeting was attended by Garrick Stoldt, Chief Financial Officer; Steven S. Radin, Esq., Vice President, Corporate and Legal Affairs; and Susan Ballestero, Vice President, Human Resources.
I would like to thank them for the invitation and the opportunity to share the concerns of plan participants. The meeting was an open and frank discussion of the issues and the confusing communications that have been sent to plan participants.
I also spoke to representatives at the Pension Benefit Guaranty Corporation (PBGC) and the Pension Rights Center (Center).
As always, there are two sides to a story.
The management of Saint Peter's University Hospital is using the church to exempt itself from the Federal safeguards that protect your retirement plan. For an introduction, see Your Pension At Risk.
