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Updated: 10:36 PM Jul 17, 2009
Bay Medical Center's New Pension Plan
Bay Medical Center may soon be looking for dozens of new employees. As a result of the poor economy, the hospital is switching the employee pension plan, which may force some to quit.
Posted: 10:13 PM Jul 17, 2009Reporter: Josh Gauntt Email Address: joshua.gauntt@wjhg.com  Bay Medical Deals With Budget Constraints |
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3 Comments 
We do not receive 'cost of living' raises on our pension plan at our hospital. I wonder if we will get that 1% match next year, either. We, even in the high stress medical industry will have to fund our retiremnt on our own-get used to the idea. We need to consider ourselves lucky to have our jobs!
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I am mad! A local not-for-profit, "government" hospital is considering selling off an in-patient mental health facility and will definitely be changing hospital employee's pension plans to save money. The pension plan change will adversely affect 300 employees; 10 employees have already "retired" to avoid losing accrued retirement funds. At the same time, the hospital has invested in a "Vitrectomy Machine", opened a 1.7 million "state-of-the-art cath lab", and is in the middle of a 70 million building expansion project. Sure, sure, money had already "earmarked" funds for these projects; I don't buy it. The employees, patients, and the community will pay in the long run. Lost pensions and lost jobs are the are only the beginning. Next, cost studies will be done to decide how patient costs can be reduced or milked to fund pet expansion and surgery projects. I say stop bleeding the employees and reducing quality patient care to save money. Go to the top and knock out expenses. General Motors cried poor mouth, accepted bailouts, and still had to declare bankruptcy because the top would not reduce spending. Hasn't anyone learned anything? Duh-h-h-h-h?
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If such cuts are Ok (and routine) for Private Sector Pensions & Benefits, why aren't we doing the SAME thing to our VASTLY OVERPAID and OVER-BENEFITED Civil Servants' Pensions & benefits? What makes these people so "special", to the detriment of EVERYONE else?
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