Saint Peter's on April 3 sent a letter to plan participants and employees, confirming their intent to appeal the recent court order rejecting their claim to church plan status. Susan Ballestero, the hospital's VP of Human Resources, writes that "Saint Peter's plans to appeal this decision and take any action that may be necessary to affirm that Saint Peter’s Healthcare System may maintain its present Church Plan." The hospital apparently plans to continue its present operation of the plan – grossly underfunded, without insurance – until forced to do otherwise. We think they will have to find another venue for appeal, as the judge in the present case has emphatically rejected their arguments so far.
Another article has been published about the decision, this one on April 4 on the website of PLANADVISOR magazine.
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.
Ballestero and the other defendants still continue to accrue dollars in their deferred compensation plan see pg. 50 at http://207.153.189.83/EINS/221487330/221487330_2012_09e4d320.PDF meanwhile pg 111 talks about the underfunded pension plan.
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