Letter: St. Francis Healthcare pension needs triage
As those health facilities whose contract negotiations include talks on pension plans, be aware that not all plans are required to be insured. The St. Francis Healthcare System pension is being terminated, leaving hundreds of retirees wondering what options are out there. It is a learning lesson that nothing is guaranteed. Because of the church’s exemptions from certain taxes and pensions not requiring insurance, there is no safety valve.
Compounding the situation is that communication is almost nonexistent between the managing agency, St. Francis and the unions of affected members. A town hall meeting could help alleviate some anxieties, but it doesn’t seem like it will happen. As an affected retiree, I wish the best to all the others.
Willie Arakaki
Kaneohe
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