RHODE ISLAND
GoLocalProv
Friday, August 18, 2017
GoLocalProv News Team
GoLocalProv has learned that the St. Joseph Health Services of Rhode Island pension fund has filed for receivership — the filing puts thousands of pensions at risk.
This is one of the largest pension failures in Rhode Island in recent history. It will take months to determine the total financial impact on the pensioners.
Kilmartin Signed Off
According to sources close to the matter, somewhere between 2,000 and 3,000 pension accounts will be impacted, but the exact number of individuals affected is not known.
The triggering event was a decision by the Diocese of Providence to exit the system. The fund is not connected to CharterCARE or their parent company, Prospect.
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