PROVIDENCE, R.I. (AP) - Rhode Island Gov. Gina Raimondo has approved legislation that is aimed at helping settlements in the case of a severely underfunded hospital pension plan at the center of a number of lawsuits.
The Democratic governor said Tuesday that she hopes the legislation expedites an agreeable settlement and that she knows many of those affected by the St. Joseph Health Services pension relied on it. The Providence Journal reports lawmakers passed similar legislation in 2014 to pave the way for settlements in the state’s lawsuit to recover the millions lost as a result of its investment in retired Boston Red Sox pitcher Curt Schilling’s doomed video game company.
About 2,700 current and former hospital workers were covered under the plan, which was put into receivership last August.
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Information from: The Providence Journal, http://www.providencejournal.com
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