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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

News Release

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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Union-Employer Proposal Would Hit Some Retirees

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A coalition of unions and employers is proposing changes to the federal law that governs the pension plans of about 10 million people, including reducing benefits paid to retirees, the first time in four decades that such cuts would be allowed.

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I.R.S. Reversal on ‘Church’ Pension Plan Rescues a Fund

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The Internal Revenue Service has taken an unusual step to rescue the pensions of more than 700 people whose fund was about to run out of money, but it said that their circumstances were unique and that it was not setting a precedent.

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Government Agencies Restore Protections to Hospital Retirees’ Pensions

News Release
"Church plan" designation for pension plan revoked in unprecedented action

WASHINGTON -- After a 10-year struggle, hundreds of former workers and retirees from the Hospital Center at Orange (HCO) once again have federal protections for their pensions.

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Rochester diocese pension fund falling short

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Battered by years of historically low interest rates, the pension fund for current and retired lay employees of the Roman Catholic Diocese of Rochester is underfunded to the point that its obligations nearly double its assets, raising concerns about the future of those benefits.

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