Workers Find Retirement Money Jeopardized by Loophole Treating Hospitals, Agencies as Churches
The Associated Press reports on the underfunding of pensions at religiously-affiliated hospitals, businesses, and agencies through a legal loophole designed to protect church finances. The article notes, “A pension is, essentially, a promise. For millions of workers counting on pension checks for retirement security, that promise comes with protections … those protections do not cover all workers or pensions. Because of a legal loophole, there are actually parallel pension systems. One comes with safeguards. The other, while it may be backed by good faith and honorable intentions, has no safety net.”