Update – Mar. 6, 2025
REMINDER!! ADDRESS OR BANK CHANGES
IF YOU ARE NOT RECEIVING YOUR MONTHLY PAYMENT NOTIFICATIONS IN THE MAIL – WE NEED AN UPDATED ADDRESS!
Please let us know when your address changes!
Fifth Third Bank receives returned mail each month from participants who have moved.
When you change addresses, please notify Troy at Troy@mcgkc.com or by phone at 816-455-9035. He will alert the bank so that your monthly deposit advice or check is received timely and so that you receive your 1099R for tax purposes at the end of the year.
If you change bank accounts and need a new Direct Deposit Form – there is a link on the home page.
If you wish to change your tax withholding, you can find a current form W4P at https://www.irs.gov/pub/irs-pdf/fw4p.pdf
These forms can be scanned and e-mailed, faxed to 816-792-8350
or mailed to:
MCG Consulting Group
13725 Metcalf Avenue, #423
Overland Park, KS 66223
FREQUENTLY ASKED QUESTIONS
Why sell and why now?
Singing River is in a position of strength, attractive to potential buyers, and able to dictate the best terms to assure a solid future for our patients, team members, and retirees. We have reached a point in our history where the costs of delivering the very best care to our community will soon far exceed what a county-owned provider could ever deliver for the long term (even if county taxes were increased at the maximum rate). A sale to a like-minded partner allows for an increase in purchasing power, payer negotiations and economic impact.
How will our Pension be protected if the system is sold?
One of the absolute “non-negotiable” requirements for any potential buyer is to first honor our commitment to the Pension settlement trust fund. Proceeds from a sale would go straight into the trust fund to maintain payments for the life of the plan, pursuant to the terms of the settlement.
Would it be better for Retirees if the county retained ownership of Singing River?
Outside healthcare experts and industry trends (including some hospital bankruptcies in our own state) show that continued county ownership is likely NOT better for retirees, employees, or the patients who count on us for their care. Increasing costs for daily operations, buildings, equipment, drugs, and staffing would require an enormous taxpayer burden and would still be insufficient to maintain our current operations and protect the pension commitment.
It is important to remember that the pension settlement fund is not backed by county tax dollars, it is backed strictly by Singing River’s ability to fund it. Selling Singing River to a strong partner now will ensure the pension payments are protected and will be a requirement for any sale.
Will management of the Pension change if the system is sold?
Management of the pension settlement trust fund is in the hands of the Chancery Court of Jackson County. The court has appointed Special Fiduciary Traci Christian to oversee the plan and any changes would be decided by the court.
Would a new buyer change our Pension payments?
A new buyer would have absolutely no say so over the pension plan, all decisions around the plan remain up to the Chancery Court and the court-appointed Special Fiduciary.
Where can I learn more about the process or ask questions?
We have set up a new web page with more information and updates on the process at www.SingingRiverForward.com. You can submit questions there and even subscribe to the website to receive email alerts. In addition, we are supplying updates to the Special Fiduciary who will post them on the www.SingingRiverRetirement.com website where you can also find the latest reports to the court and other updates.
July 18, 2022 – Update to SRHS-Pensioner-Memo
TO: Singing River Health System Pensioners
FROM: Tiffany Murdock, CEO, Singing River Health System
DATE: July 18, 2022
RE: Update on Board of Supervisors Meeting
Dear Singing River Health System Retiree,
I am writing to provide an update on our plans to secure the future of the Singing River Health System and healthcare for our communities in Jackson County and along the Gulf Coast of Mississippi.
As I shared last month, the Singing River Board of Trustees passed a resolution to pursue a fully integrated model with a like-minded healthcare organization that will invest in and grows our system. Today, the Jackson County Board of Supervisors approved this resolution to pursue this path.
As you are aware, the healthcare industry has continually changed over the last decade, with community hospitals like ours facing the strongest headwinds. As stated in the Raymond James report that was shared at the BOS meeting on July 5th, some of the challenges we face include:
- Mississippi has the second-worst overall health ranking in the U.S., the highest poverty rate in the country, and an uninsured population significantly above national averages.
- Mississippi is one of 12 states that did not adopt a Medicaid expansion, which means the amount of income that would have gone to health systems in our state is slated to decrease, significantly impacting hospitals like Singing River that provide significant care for underinsured and uninsured populations.
- Like many community hospitals across the country, Singing River faces staffing shortages and must focus on retaining staff long-term while attracting new talent to serve our communities.
To stay ahead of these challenges, we must find solutions for advancements in technology, how we pay and get paid for services, the way we deliver care, and the ongoing challenge of staffing shortages, not to mention the impact of the pandemic. We are also looking for a partner who shares our vision to expand access to care, recognizes the value of our culture, and equips us with the tools to preserve what makes us unique while enhancing our services to better care for our patients.
The next step in the formal process includes the Board of Supervisors holding a public hearing for community input and consideration.
What This Means to You
Our commitment to our patients and communities doesn’t change as part of this process – and our priority will continue to be providing exceptional care to all those we serve. This process will not impact our daily operations or the services we provide. This process will also not impact your pension and we will continue to fund the pension for current employees and our valued retirees as we do today.
As we move through the steps of this exciting exploration process, we have developed a website SingingRiverForward.com to keep you informed about our work to ensure a strong future for Singing River Health System right here in the local community.
We know you will have additional questions about what this means and we are committed to sharing timely updates as we progress. Please join us for a Town Hall:
- Tuesday, August 2nd at 8:00 am at the Senior Center – Jackson County, 1912 Live Oak Avenue, Pascagoula, MS.
I look forward to sharing more about this exciting journey as we work toward a brighter future for our communities along the Gulf Coast of Mississippi.
Sincerely,
Tiffany Murdock
CEO
Singing River Health System