{"id":992,"date":"2021-04-09T13:31:06","date_gmt":"2021-04-09T13:31:06","guid":{"rendered":"http:\/\/www.singingriverretirement.com\/?p=992"},"modified":"2021-04-09T13:31:37","modified_gmt":"2021-04-09T13:31:37","slug":"update-april-4-2021","status":"publish","type":"post","link":"https:\/\/www.singingriverretirement.com\/?p=992","title":{"rendered":"Update – April 8, 2021"},"content":{"rendered":"\n

NOTICE<\/span><\/strong><\/p>\n\n\n\n

TO ALL VESTED PARTICIPANTS AND BENFICIARIES OF THE SINGING RIVER HEALTH SYSTEM EMPLOYEES\u2019 RETIREMENT PLAN AND TRUST (the \u201cPlan\u201c)<\/strong><\/p>\n\n\n\n

You may have seen a story published by WLOX on April 8 or other news coverage regarding the Plan.<\/p>\n\n\n\n

It is important that you know that there are incorrect and misleading details reported in that story.<\/strong><\/p>\n\n\n\n

The lawsuit filed Wednesday is a suit against KPMG and Transamerica.  This lawsuit alleges negligence on their part as the former auditor and administrator of the Plan.<\/p>\n\n\n\n

The new lawsuit claims that SRHS retirees are not getting 100% of what was originally promised to them<\/strong>.  This is correct as you all know.  Benefits had to be reduced in May of 2018 - even with the settlement. <\/p>\n\n\n\n

The new lawsuit is a claim to recover those benefits lost because of the benefit reductions in 2018<\/strong>.<\/p>\n\n\n\n

I want you to know:<\/strong><\/p>\n\n\n\n

The Hospital is<\/strong> making the settlement payments<\/strong> in accordance with the 35 year agreement \u2013 that money has not<\/strong> \u201cquickly disappeared\u201d and no additional<\/strong> benefit reductions are contemplated at this time.  The money in the trust and<\/strong> the settlement payments<\/strong> are being managed and you can stay up to date each month with the financial information I post here on this website.<\/p>\n\n\n\n

This lawsuit against KPMG and Transamerica has NO BEARING on the reduced benefits currently being paid or that will be payable from this plan.  <\/strong>It is a separate<\/strong> lawsuit to recover the benefits lost because of the reductions that were necessary in 2018 to keep the Plan solvent.<\/p>\n\n\n\n

With the settlement and with the benefit reductions that were ordered in May of 2018, this plan is currently within the court ordered corridor of 90% - 110% funded and it is currently projected to stay that way.   <\/strong><\/p>\n\n\n\n

Please continue to follow my updates here on this website regarding the status of the Plan. <\/p>\n\n\n\n

Feel free to contact me if you have questions.  I can be reached via e-mail at Traci@mcgkc.com<\/a> or by phone at 816-455-9030<\/strong>.<\/p>\n\n\n\n

Traci Miller Christian
<\/strong>Special Fiduciary Singing River Health System Employees\u2019 Retirement Plan and Trust<\/p>\n\n\n\n

\n
Download PDF of NOTICE<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

NOTICE TO ALL VESTED PARTICIPANTS AND BENFICIARIES OF THE SINGING RIVER HEALTH SYSTEM EMPLOYEES\u2019 RETIREMENT PLAN AND TRUST (the \u201cPlan\u201c) You may have seen a story published by WLOX on April 8 or other news coverage regarding the Plan. It is important that you know that there are incorrect and misleading details reported in that […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-992","post","type-post","status-publish","format-standard","hentry","category-updates"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.singingriverretirement.com\/index.php?rest_route=\/wp\/v2\/posts\/992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.singingriverretirement.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.singingriverretirement.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.singingriverretirement.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.singingriverretirement.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=992"}],"version-history":[{"count":2,"href":"https:\/\/www.singingriverretirement.com\/index.php?rest_route=\/wp\/v2\/posts\/992\/revisions"}],"predecessor-version":[{"id":994,"href":"https:\/\/www.singingriverretirement.com\/index.php?rest_route=\/wp\/v2\/posts\/992\/revisions\/994"}],"wp:attachment":[{"href":"https:\/\/www.singingriverretirement.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.singingriverretirement.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.singingriverretirement.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}