employees' pension plans are underfunded, confirming one of the fears expressed by Catholic Church employees since the archdiocese filed for Chapter 11 bankruptcy protection on Jan. 4.
affects only archdiocese employees and retirees - not those of schools, parishes or other participating employers. He attributed the shortfall to poor investment performance.
Milwaukee Archdiocese's plans are not covered by ERISA, the landmark 1974 Employee Retirement Income Security Act meant to protect workers' pensions.
in the public portion of the meeting that he anticipated six major creditor groups, including the victims and pension plan participants.
Diocese of Wilmington, where documents released as part of its bankruptcy revealed a dramatically underfunded pension plan. Also, in Wilmington, the court ruled that millions of dollars in pension funds in a joint investment account would become part of the diocese's estate.
Click on he following for more details: Archdiocese of Milwaukee pension plans underfunded - JSOnline
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