Singing River Health System employees hear their pension fund op - WLOX.com - The News for South Mississippi

Singing River Health System employees hear their pension fund options

Singing River Health System administrators prepare to hold a town hall meeting to explain pension fund options going forward. Singing River Health System administrators prepare to hold a town hall meeting to explain pension fund options going forward.
A meeting is now underway at the Pascagoula Senior Center concerning the future of the Singing River Health System retirement pension. 

This morning's meeting is the first of several town hall meetings being held for current employees, former employees, and retirees. About 70 employees have showed up for the first meeting. 

Last month system officials said the retirement pension was in danger of going into default, with assets of about $130 million and liabilities of about $280 million. Earlier this week, those officials said the retirement  fund was being frozen and will soon be liquidated. 

Today, system employees are hearing their options. Those options could include rolling money over into a 401K style retirement plan, taking a lump sum payment with interest of money they have contributed, or staying in a similar plan with reduced benefits. 

Doug Walker is covering the town hall gathering and will have details on the story later today WLOX News and on WLOX.com.

Copyright 2014 WLOX. All rights reserved.
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