In April, Munroe Regional’s board of trustees chose Naples, Fla.-based Health Management Associates to lease the 421-bed hospital under a 40-year agreement. PwC, which manages Munroe Regional’s pension plan, recently told the board that transferring the pension after the lease agreement begins would cost more than doing so beforehand.
Currently, Munroe Regional’s pension plan is fully funded, according to the report. Closing out the plan means all employees would still be paid amounts owed, but the hospital would still have to incur costs associated with transferring assets. No details were given on when or if Munroe Regional would follow through with the plan.
More Articles on Hospitals and Pension Plans:
Top 7 Strategies for Non-Profit Hospitals to Mitigate Pension Plan Risk: Moody’s
Taking Care of Employees: 5 Trends on Hospital Benefit Plans
S&P: Pensions Still Burden Non-Profit Hospitals
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