The hospital declined to comment on details of the contract negotiations or the union’s allegations. Our goal is to support all of our associates in a just and equitable manner as we continue to provide safe, compassionate care to all.” “We continue to bargain in good faith to reach a mutually beneficial agreement on our contracts with Office & Professional Employees International Union Local 40. Photo courtesy of Office & Professional International Union Local 40.īeing of our patients, visitors, associates, physicians and picketers is our first priority,” the statement said. Warranties as to the current status or accuracy of these descriptions.Workers walk a picket line outside Ascension Providence Rochester Hospital. provides this information merely as a courtesy and makes no makes no representations as to accuracy of these The terms of a specific plan may have changed since the most recentlyĪvailable tax filing, and as a result, these descriptions and features may not beĬurrent. The information provided on this page is based upon the most recent Plan tax filingsĪvailable. Specific terms and options for the specific Plan in question. Review the applicable Summary Plan Description for a detailed description of the The Plan features and descriptions presented are provided only as examples andĭescriptions a particular type of plan. This is a “frozen” plan, meaning that as of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).Benefits accrued under this Plan are primarily pay related.Features of the ASCENSION CRITTENTON HOSPITAL PENSION PLAN may include: This includes beneficiary designations and "surviving spouse" benefits. Additionally, the retirement of the Participant prior to the entry of a QDRO will typically limit the Alternate Payee to receiving only a portion of the Participant’s benefits based upon the election made at the Participant’s benefit commencement. When dividing a defined benefit plan, it is critical to know the types of benefits available under the terms of the applicable plan. Rather, the Alternate Payee’s award is typically made in terms of a monthly benefit payable for either the lifetime of the Participant (a "shared payment") or the lifetime of the Alternate Payee (a "separate interest"). With this type of plan, the Alternate Payee is usually not awarded a lump sum cash payment from the plan. The type of benefits available may vary significantly from plan to plan. It is rare, but some plans may allow for a lump sum payment of benefits instead of a monthly payment. Benefits accumulated under defined benefit plans are often referred to as "accrued benefits". Benefits are generally payable to a participant upon reaching "normal retirement age" for the remainder of the Participant's lifetime. Benefits paid at the time of retirement are calculated using a formula based upon years of "credited service" and the Participant’s compensation information. A defined benefit plan is traditionally referred to as a "pension plan." This type of plan typically provides participants with a monthly retirement benefit upon reaching a specific age for either a specific period of time, or for the Participant’s lifetime, depending upon the form of benefits offered by the plan and selected by the Participant. ASCENSION CRITTENTON HOSPITAL PENSION PLAN is a DEFINED BENEFIT PLAN.
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