Hospitals’ have pension problems too (Crain’s Chicago Business)

EXCERPT:

January 4, 2013 – Already caught between flattening revenues and rising costs, many hospital CEOs are confronting a looming pension fund gap. The University of Chicago, which includes the university and the medical center, and Resurrection Health Care Corp. were among the most underfunded pension funds for hospitals in the country, according to a study of 550 health systems by Standard & Poor’s Ratings Services, based on 2010 financials. While U of C’s and Resurrection’s retirement funding has improved, they are part of a group of five Chicago-area hospitals and health care networks whose pensions are less than 80 percent funded and are considered at risk of default, according to federal regulations.

Link to Full Article: http://www.chicagobusiness.com/article/20130105/ISSUE01/301059976/hospitals-pension-problem

Source: Crain’s Chicago Business

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