Pensions cut deep. After years of reduced or eliminated pension fund contributions, hospitals are being forced to pay up.
When the economy was booming and investment returns were strong, many hospitals benefited from "funding holidays" that let them reduce or eliminate annual pension fund payments. But not-for-profit hospitals' pension funds lost more than 6% last year, and a discount-rate drop boosted funding requirements. It's a "double whammy," according to Kim McCarthy, left, of Trinity Health.
Jaklevic
Mary Chris
MC
D005377:Financial Management, Hospital / Q000639:trends*; D007449:Investments / Q000191:economics / Q000639:trends; D010415:Pensions / Q000706:statistics & numerical data*; D010557:Personnel Administration, Hospital / Q000191:economics*; D014481:United States