Singing River proposes to fund pension plan at 88 percent of original benefit

Via SunHerald,

By Wesley Muller and Blake Kaplan, SunHerald

June 18, 2015

PASCAGOULA — Singing River Health System officials Thursday night released details of a new proposal for saving its underfunded pension plan.

Under the proposal, active employees enrolled in the pension plan would be eligible for a monthly benefit check, starting at age 67, that is about 88 percent of the original pension plan’s monthly benefit.

Similarly, retirees would continue to receive monthly payments at 88 percent of their original benefit, including an annual cost-of-living-adjustment payment at 88 percent of the last cost-of-living-adjustment payment received in December 2014.

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