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.
Thursday, April 10, 2014
Saturday, April 5, 2014
Another article has been published about the decision, this one on April 4 on the website of PLANADVISOR magazine.
Thursday, April 3, 2014
- Adam Geller, Associated Press (April 1, published in many newspapers)
- Charles Toutant, New Jersey Law Journal (April 1)
- Hazel Bradford, Pensions & Investments (April 1)
- Bob Makin, Courier News/Home News Tribune (April 3)
We'll get back to those articles a bit later.
Judge Shipp's ruling, in denying Saint Peter's claim that their pension plan is entitled to ERISA's church plan exemption, also denies their motion to dismiss the case. The case can thus now proceed, a process which we expect to take several months.
Tuesday, April 1, 2014
The ruling negates the IRS's August 2013 private letter ruling that the Saint Peter's plan is a church plan. It essentially agrees with, and we would say bolsters, the similar recent ruling in the related Dignity Health case in California. Litigation is not complete in either case, but as in the Dignity case, the essence of the Saint Peter's case has been decided by this ruling. We do not know whether Saint Peter's might make changes to the management of the pension plan in the near term. We don't know if they can stand pat until the completion of the case, or afterwards pending an appeal. We do know they can no longer claim that the Saint Peter's plan is a church plan.
Heartfelt congratulations to Larry Kaplan, who took on this burden on behalf of all the Plan members; the law firms arguing the case for the plaintiffs, led by Karen Handorf at Cohen Milstein; and to the members of the Saint Peter's pension plan, those still working and those now retired, whose victory this is. More soon.