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July 20, 2010
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Employment Law News

 

PBGC Protects Pensions at Victory Memorial Hospital

The Pension Benefit Guaranty Corporation (PBGC) today announced it has assumed responsibility for the underfunded pension plan sponsored by Victory Memorial Hospital, Brooklyn, N.Y. The Victory Memorial Hospital Pension Plan, which covers about 1,200 current and former employees and retirees, has been frozen since 1997.

The PBGC stepped in after Victory failed to make legally required minimum funding contributions to the plan, and the agency determined that the plan would be unable to pay benefits when due because of underfunding. The PBGC will pay retirees’ monthly benefit checks without interruption, up to legal limits, and will ensure other plan participants receive benefits when they are eligible to retire.

Victory missed almost $8 million in legally required contributions. The hospital's last contribution was for the 2003 plan year. According to PBGC estimates, the plan is 42 percent funded, with about $20 million in assets to cover nearly $49 million in promised benefits. The agency expects to be liable for the entire $29 million shortfall. Read more at pbgc.gov

 


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Did You Know?    
 
 
Laws prohibit the termination of an employee in retaliation for filing a workers compensation claim
The Workers’ Compensation statute in one state, NJSA 34:15-39.1 only prohibits the termination of an employee in retaliation for filing a workers compensation claim or for testifying at a workers’ compensation hearing. If you feel you were terminated for these reasons, one alternative is the filing of a discrimination complaint against your employer with the Division of Workers’ Compensation. Then contact our lawyers.

 


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Latest news about Employment cases in West Virginia and nationwide:

U.S. Labor Department Announces $4.4 Million Grant To Assist Mississippi Workers
The U.S. Department of Labor today announced a $4,433,754 grant, with an initial release of $1,477,077, to provide employment-related assistance to...
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Metropolitan Area Employment And Unemployment

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Statement By Ohio Secretary of State J. Kenneth Blackwell Regarding Challengers

“As Secretary of State, it is my responsibility to conduct Ohio’s elections in a manner as open and accessible as possible, consistent wit...

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Employment Lawyer.com Terms

 


Today's Terms

Accessible

Definition:
Easy to approach, enter, operate, participate in, or use safely, independently and with dignity by a person with a disability (i.e., site, facility, work environment, service or program).

Undue Hardship

Definition:
With respect to the provision of an accommodation, significant difficulty or expense incurred by a covered entity, when considered in light of certain factors. These factors include the nature and cost of the accommodation in relation to the size, resources, nature, and structure of the employer's operation.

Title VII of the Civil Rights Act of 1964

Definition:
Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. §2000e, et seq., prohibits discrimination in employment on the basis of race, sex, national origin and religion. It also is unlawful under the Act for an employer to take retaliatory action against any individual for opposing employment practices made unlawful by Title VII or for filing a discrimination charge or for testifying or assisting or participating in an investigation, proceeding, or hearing under Title VII.

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Employment Resources

 


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Employment Hot Topics

 
Topics Related to Employment:

  • Collective Bargaining
  • Employment Discrimination
  • Unemployment Compensation
  • Pensions
  • Workplace Safety
  • Worker's Compensation

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West Virginia Employment Attorney

 
If you live in the following cities and need an Employment attorney you should contact our Employment Attorney as soon as possible:

  • Barboursville
  • Beckley
  • Bluefield
  • Bridgeport
  • Buckhannon
  • Charles Town
  • Charleston
  • Clarksburg
  • Elkins
  • Elkview
  • Fairmont
  • Grafton
  • Harpers Ferry
  • Huntington
  • Hurricane
  • Keyser
  • Logan
  • Martinsburg
  • Morgantown
  • Moundsville
  • Oak Hill
  • Parkersburg
  • Princeton
  • Saint Albans
  • Vienna
  • Weirton
  • Wellsburg
  • Wheeling
 


Legal Disclaimers
All attorney listings are a paid attorney advertisement, and do not in any way constitute a referral or endorsement by an approved or authorized lawyer referral service. The information provided on West Virginia Employment Lawyer.com is not intended to be legal advice, but merely conveys general information related to legal issues commonly encountered. Your access to and use of this website is subject to additional Terms and Conditions.

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