Benefits March 30, 2009
PA Health System Suspends 403(b) Match
March 30, 2009 (PLANSPONSOR.com) - The West Penn
Allegheny Health System is temporarily suspending its match
contribution to employee 403(b) accounts.
Reported by Rebecca Moore
According to the Pittsburgh Post-Gazette, the suspension starts this week and continues “until economic conditions improve.” The move affects about half of the health system’s 13,100 employees.
Spokesman Dan Laurent told the newspaper the health system is trying to do all it can to minimize any job losses, “but to do that requires other difficult decisions such as this.”
You Might Also Like:
How Should Plan Sponsors Stand Up a New Retirement Plan Committee?
Plan sponsors can find education and training for their retirement plan committees from several sources, but how best to build...
How Sponsors Can Get the Most out of DC Plan Design Changes
Annuities may be a hot topic, but sponsors can add the most value to plans by incorporating features like auto-enrollment...
Benefits |
DOL Prevails in Court Orders, Removing TPA From Acting as Fiduciary for Sponsors
The regulator prevailed in motions against a Pennsylvania retirement third-party administrator it alleges stole $5.5 million in retirement plan assets...