Click here for a short summary of the issue. Click here for a detailed timeline.
See also the Pension Rights Center website.
Click here for ex-St. Peter's CEO John Matuska's 2011 letter to the IRS.
Click here for ex-St. Peter's VP of HR Bruce Pardo's 2011 letter to the IRS.
Haga clic aqui para verun resumen del problema en español.


Saturday, May 11, 2013

Class Action Lawsuit Launched Against Saint Peter's

Saint Peter's Retirement Plan participant Larry Kaplan has asked us to share the following statement.
A Class Action Complaint has been filed against Saint Peter's Healthcare System by Laurence Kaplan, on behalf of himself, individually, and on behalf of all others similarly situated. This lawsuit is brought on behalf of Plan participants who are covered by the original Defined Benefit Plan, which the Healthcare System is trying to convert to a Church Plan.

The complaint has been filed to convince the Court that our Plan should remain covered by ERISA with all of the benefits and not be changed to a Church Plan. Within the complaint are many reasons which describe why the Healthcare System is not entitled to change the Plan to a Church Plan. I cannot go into detail, but the complaint clearly covers the technical reasons for this change not to happen.

Our attorneys are a Nationally known firm based in Washington, D.C. and are handling this case on a contingency basis, so there is no money that we have to pay them at any time. Their fee will be determined by the Court, if the case is won, and will be ultimately paid by the Healthcare System. If we lose, the firm will not be paid by anyone, but will have put many man hours working on this complaint for our benefit.

Larry Kaplan
At present we have no further info on this announcement, but we will share info if and when it becomes available. We still expect to follow up soon on our previous post with information on responding to the latest IRS comment period.

Until then, some other related news: There's a new article in the Star-Ledger about the restoration of benefits for Healthcare Center at Orange retirees. Meanwhile, employees of St. Mary's in Passaic are losing their "church fund" pensions, as management there starved the fund and then sold the business. I'm sure they received similar reassurances as we have heard from SPUH management.

3 comments:

  1. Thank you for posting to inform us of the latest development in this back-stabbing case.
    Work like a dog, dedicate your life to an establishment with the promise of a pension plan, only to have it pulled out from under you like an old rug.
    Even though it hasn't happened yet, this can be the only reason for a Church Plan.

    ReplyDelete
  2. I HAVE PROOF THAT SAINT PETERS HOSPITAL, SUBSIDIARY OF SAINT PETERS HEALTHCARE PENSION PLAN 001 IS NOT AND NEVER HAS BEEN A CHURCH PLAN--AND RAK AND STOLDT ARE EITHER LIVING IN A DREAM WORLD OR OUT TO SCREW YOU! PLEASE EMAIL ME FOR A COPY OF THE 2002
    APPLICATION MADE BY SAINT PETERS TO THE IRS FOR AN EP LETTER RULING ON PLAN 001 WHICH WAS CHECKED "OTHER" AND NOT CHECKED AS A- NON ELECTING CHURCH PLAN AS RAK SAID IT WAS OR IS! PLEASE EMAIL ME, AT RENSALER@YAHOO.COM

    ReplyDelete
  3. WE SHOULD BE ALLOWED TO CLOSE OUT OUR PENSION PLAN. THIS CHURCH THING WILL ONLY BENEFIT THE HOSPITAL NOT THE EMPLOYEES. I ALSO WANT TO MAKE SURE ALL SPUH EMPLOYEES PAST AND PRESENT WILL BENEFIT FROM THIS CLASS ACTION LAWSUIT. PLEASE EMAIL ME AT SHANNON_GLORIA@YAHOO.COM.

    ReplyDelete

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