Health Law & Business News

Rhode Island Hospital Pension Cleared for $12 Million Settlement

Oct. 10, 2019, 1:55 PM

A settlement that would add nearly $12 million to a troubled pension plan covering hospital workers in Rhode Island received final approval from a federal judge.

Chief Judge William E. Smith of the U.S. District Court for the District of Rhode Island approved a deal providing some relief for more than 2,700 people covered by St. Joseph Health Services of Rhode Island’s pension plan. The hospital announced in 2017 that the plan would run out of money in a decade if it didn’t cut benefits by 40 percent.

The cash infusion will come largely from Roger Williams Hospital, one of...

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