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.

Wednesday, December 28, 2011

Another Brick in the Wall

A new letter from St. Peter's CEO Ronald Rak has been emailed to all St. Peter's employees. It reads:
Dear Saint Peter’s Retirement Plan Participant:

The administration of Saint Peter’s Healthcare System is grateful for your many thoughtful comments during the recent town hall meetings to discuss the status of your Saint Peter’s pension plan. We hear your concerns and as a result we are actively investigating ways to protect your retirement dollars, with the help of new outside experts to guide us in that mission.

The result of our efforts in this regard will be shared with you no later than February 28, 2012. Again, please know your concerns have been heard. A copy of this letter is also being mailed to every retirement plan participant at their home.
Note: the IRS comment period ends January 20, 2010. With this letter, St. Peter's management informs us that they plan to stonewall the pension plan participants until long after it's too late to effect any change in the IRS decision. Download the letter here.

It's vital that letters be sent to the IRS before the close of the comment period. The Pension Rights Center's sample letter is located here. We will make customized versions of this letter available for download very soon; stay tuned. In the meantime, please let us know your thoughts: comment at the link below. Both signed and anonymous comments are welcome.