They worked at a Catholic hospital for decades. Then it took away their pension [View all]
This discussion thread was locked as off-topic by Omaha Steve (a host of the Latest Breaking News forum).
Source: cnbc.com
- Jerry and Kathy Adach, former employees of St. Clare’s Hospital, were told they are losing their $27,000-a-year pension because it is low on funds.
- Around 1 million workers around the country could be in a similar situation due to a loophole in federal retirement law.
St. Clare’s Hospital was everything to Jerry and Kathy Adach.
They married after meeting at the Schenectady, New York area hospital, where both worked, in the early ’80s. Their two daughters were born there. The couple, who devoted a combined 59 years of service to the facility, had expected to retire with a good pension from the hospital.
That is, until last year, when their former employer — which went out of business back in 2008 — delivered a gut punch: Its pension plan was in financial distress and wouldn’t pay a dime of their expected benefits.
Read more: https://www.cnbc.com/2020/02/13/distressed-pension-funds-could-take-away-benefits-for-hospital-workers.html
This is the new normal (not even that new).
Q: Do we hear ANYTHING from the GOP or Trump on this?
This makes my blood boil.
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