Service Employees International Union Healthcare Illinois, Indiana, Missouri, Kansas claims TMC halted its defined benefit pension plans in February and implemented an enhanced defined contribution plan.
Under a defined benefit pension plan, employee benefits are based on a formula using factors including salary history, duration of employment and age. The employer’s formula is known by employees in advance. For defined contribution plans, employer’s contributions fluctuate based on investment earnings.
“Truman Medical has worked heard to have good relations with its union partners and will continue that effort. Truman intends to work with the SEIU in hopes of resolving this dispute,” TMC General Counsel Bill Colby said in the report.
Between 320 and 370 SEIU members work for TMC, according to the report. The suit was filed in federal court in Kansas City.
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