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Church pension plans

IRS grants church-plan status to St. Peter's Healthcare System

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The IRS has granted church-plan status to the defined benefit pension plan of Saint Peter's Healthcare System, New Brunswick, N.J., exempting it from Employee Retirement Income Security Act rules on reporting, minimum contributions and paying premiums to the Pension Benefit Guaranty Corp.

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Courts, Rather Than IRS, May Be Arbiter Of Church Plan Exemption, Practitioners Say

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Recent Internal Revenue Service rulings on the "church plan" status of retirement plans sponsored by large hospital systems, including a ruling apparently received by the Saint Peter’s Healthcare System Retirement Plan, indicate that the IRS is disinclined to modify its long-standing interpretation of church plan exemption under federal pension law, practitioners told BNA Aug. 23.

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Pension Advocates Raise Questions About IRS Rulings on Church Plan Status

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In the months since the Internal Revenue Service lifted a moratorium in 2011 on issuing private letter rulings on church plans, IRS has issued at least 13 rulings granting church plan status, including one conferring church plan status on a defined benefit pension plan sponsored by a tax-exempt 501(c)(3) unincorporated religious organization that had been paying pension insurance premiums to th

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A deed well done: Pensions protected

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Let me brag. The Pension Rights Center, where I serve on the board, has just helped participants in a so-called church plan achieve justice. The Pension Rights Center did not do this alone; former employees and retirees as well as the Internal Revenue Service and the Pension Benefit Guaranty Corporation (PBGC) played important roles.

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Church pension plan status being tested by IRS, class-action lawsuits

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The IRS' long-term trend of allowing church-affiliated defined benefit pension plans to be exempt from federal pension rules could reverse course after an unusual decision by the agency and a flurry of lawsuits.

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Hallelujahs ring after IRS reverses church pension rule

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The Internal Revenue Service may be having a bad week, but Mary Rich isn't complaining about the taxman. The former nurse and hospital executive recently won a 10-year battle to get the IRS to reverse a ruling that would have cost her and her husband, Riz Corpuz, $2,500 a month in pension benefits from their former employer, the now-defunct Hospital Center at Orange (HCO) in New Jersey.

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PBGC Reverses Prior Position as It Agrees To Pay Benefits for Shuttered Hospital’s Plan

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The Pension Benefit Guaranty Corporation announced May 10 that, in a reversal of a prior position, it would pay the pension benefits for more than 800 former employees of a New Jersey hospital center that closed in 2004.

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‘Triumph of justice’: 800 pensions saved after feds cover $30M shortfall for closed hospital

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Christmas will come early to 800 hospital workers whose pensions were at risk of being lost by December, thanks to a federal safety net program.

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PBGC to take control of hospital pension plan

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The PBGC will cover the pension benefits of nearly 800 former employees of the Hospital Center at Orange, after a change in legal status.

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Pension Rights Center Applauds the Pension Benefit Guaranty Corporation’s Take-Back of a Hospital Pension Plan

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WASHINGTON — The Pension Rights Center applauds today’s decision by the Pension Benefit Guaranty Corporation (PBGC) to take over pension payments to more than 800 former employees of the now-defunct Hospital Center at Orange (HCO).

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