Under the new plan, which will go into effect Nov. 4, employees contribute as much as they want to the plan with the hospital making a maximum three percent contribution. Hospital president and CEO Maureen Bryant said the decision results from a hospital pension obligation exceeding $80 million.
MHMC has recently faced financial problems that have forced the hospital to dip into cash reserves set aside for improving existing facilities and equipment.
Read the Wicked Local report on Morton Hospital and Medical Center pension plans.
Read more on hospital business:
–Hospitals Show Quality Gains in Joint Commission Report
–Patients Fail to Pay, Understand Financial Obligations
