By Karin Price Mueller | NJ Advance Media for NJ.com
on November 28, 2016
Pensions have been on their way out for a long time.
They’re expensive for employers, and they require lots of rule-following and reporting.
But the sponsors of pension funds run by Catholic hospitals have taken advantage of an IRS rule, which, in effect, gives zero protection to retirees if the pension goes bust.
The U.S. Supreme Court could decide as early as Monday whether it will consider such pension cases, impacting thousands of New Jerseyans who worked for St. Peter’s University Hospital in New Brunswick and tens of thousands of Catholic hospital employees nationwide.
The decision could also affect another Catholic hospital pension that’s months away from going belly up, Bamboozled has learned.
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