Singing River Health System hit with second lawsuit over failed pension plan

Singing River Health System in Pascagoula, Miss., is facing a second federal lawsuit over its failed pension plan, according to a gulflive.com report.

Last month, employees of the system filed a class-action lawsuit against Singing River alleging it committed corporate and financial fraud and breach of contract when it announced plans to take away employees' pensions.

The most recent lawsuit was filed by three Singing River retirees against the system, current and former members of its board of trustees and administrators. The complaint alleges the defendants breached their contracts with pension plan members and their fiduciary duties and committed fraud, among other allegations.

The last year the system made contributions to the pension plan was 2009. However, the retirees allege they were sent documents that assured them "significant investments" were being made to the pension plan well after 2009, according to the report. 

Pension plan participants were required to make a 3 percent contribution and were assured they would receive "a certain percentage of their salaries upon retirement," according to the report.

In early December 2014, Singing River froze the pension fund and announced plans to eventually liquidate the fund.

More articles on healthcare industry lawsuits:

ProMedica seeks Supreme Court review of St. Luke's deal
One of the nation's highest billing physicians faces False Claims suit: 5 things to know
5 recent employee whistle-blower cases

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars

>