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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
About at will employment
In certain states, employers do not have the right to terminate employees "at will" if the termination violates public policy, an implied employment contract, or an implied covenant of good faith and fair dealing.
Newsroom
Latest news about Employment cases in Illinois and nationwide:
Injured workers underpaid
January 19, 2004
By Andy Furillo -- Bee Staff Writer
California workers injured on the job have been underpaid by hundreds of mill... Read more >
Definition:
A comprehensive civil rights law which makes it unlawful to discriminate in private sector employment against a qualified individual with a disability.
Title I of the Americans with Disabilities Act
Definition:
Title I of the Americans with Disabilities Act of 1990 (the "ADA"), as amended, 42 U.S.C. §12111, et seq., prohibits discrimination in employment against a qualified individual with a disability because of the disability. It also is unlawful under the Act for an employer to take retaliatory action against any individual for opposing employment practices made unlawful by the ADA or for filing a discrimination charge or for testifying or assisting or participating in an investigation, proceeding, or hearing under the ADA.
Curb Cut
Definition:
Also called a curb ramp, it is a depression built into the curb of a sidewalk to permit passage by a wheelchair. The incline should not exceed a gradient of 1:12 and the flat surface width should be no less than 4 feet wide.
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