Parties will submit settlement terms in January; Notice comes a month after class status request.
St. Anthony Medical Center Inc. and a group of workers have reached a deal in a long-running lawsuit accusing the hospital of underfunding and improperly terminating its pension plan.
The parties are drafting a final settlement agreement that they expect to submit for court approval by Jan. 28, 2019, the parties said in a Nov. 27 notice filed in the U.S. District Court for the Northern District of Illinois.
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The settlement notice comes nearly one month after the workers asked the court to allow them to represent a class of 1,900 participants who had a 30 to 40 percent reduction in their pensions when the plan was terminated in 2012.
In their lawsuit, the workers alleged that St. Anthony violated the Employee Retirement Income Security Act by treating the plan as a church plan exempt from ERISA’s funding, insurance, and disclosure requirements. The workers also challenge the plan’s termination, which they allege didn’t comply with ERISA and violated state law.
In September, the court allowed the workers to advance their ERISA fiduciary breach claim and their state-law claims.
Cohen Milstein Sellers & Toll PLLC, and Keller Rohrback LLP represent the workers.
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