PROVIDENCE, R.I. (AP) - A Rhode Island judge has given conditional approval to a court-appointed receiver’s settlement proposal for an underfunded hospital pension fund.
The Providence Journal reports Superior Court Judge Brian Stern determined receiver Stephen Del Sesto’s proposed settlement for current and former workers of St. Joseph’s and Our Lady of Fatima hospitals was reasonable. It now needs federal approval.
About 2,700 employees belonged to the plan. It was put into receivership in August. Attorneys for the employees claim the defendants tried to transfer money to avoid adding funds to the plan.
The court ruling will override any opposition from Rhode Island Attorney General Peter Kilmartin.
The Roman Catholic Diocese of Providence has denied the allegations.
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Information from: The Providence Journal, http://www.providencejournal.com
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