Retirement Plan of the Catholic Health System

On July 2, 2024 CWA received a response to the Forbearance Agreement we presented to Catholic Health on May 17, 2024. In the Union proposal, which was very strong, the Union outlined an agreement that:

• Specified the terms of the initial memorandum of understanding giving Catholic Health the ability to defer payments to the pension plan for a period of 15 months from October 1, 2022 to December 31, 2023.
• The total deferred contribution was $64,222,222.20.
• Catholic Health DID NOT begin the agreed to payment of the deferred funds or restart the required monthly contributions for 2024 on January 1, 2024. Therefore, the amount of money they owe the plan continues to rise. So, of the $136,000,000.00 we negotiated in 2021, Catholic Health has only contributed $10,850,000.00 in calendar year 2024.
• The amount Catholic Health must contribute to the plan needs to be $6,361,377.82 per month until the total amount negotiated is repaid no later than December 31, 2025.
• Finally, we asked that Catholic Health sign an "AFFIDAVIT FOR JUDGEMENT BY CONFESSION" meaning that they admit that they defaulted on the contractual obligations and if they failed to make further agreed upon payments, we can go to court and sue them.

Catholic Health's response was completely inadequate, and will only guarantee:

• That any money received from Federal and/or State Grants would all go to fund the plan.

That would result in approximately $38,516,666.00 of $136 million owed being contributed by the end of this year.

We will be meeting as a bargaining committee and leadership group before the end of the week and will get back to you ASAP with next steps.

 Please wear the pension button in support of the committee's ongoing fight to get a firm commitment from Catholic Health to fund the pension plan.