video: VIDEO: Violet Hosts Meeting for Hundreds of St. Joseph Pension Fund Retirees
Tuesday, September 26, 2017
Former Rhode Island Attorney General Arlene Violet hosted a meeting with an overflowing crowd of retirees of St. Joseph Hospital.
The meeting updated retirees about the receivership process and the retirees' legal rights. The meeting, held at East Providence Library drew hundred of former St. Joseph Health Services employees who are now facing a 40 percent cut to their benefits according to a receivership plan now pending before the court.
Attending the meeting was the receiver Stephan Del Sesto and special investigator and attorney Max Wistow.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTWistow successfully recovered more than $60 million for the state of Rhode Island in the 38 Studios lawsuits.
The receivership was filed by the St. Joseph Pension Fund — the entity orphaned after St. Joseph was sold to CharterCARE in 2014. The sale was reviewed by both the Department of Health for its impact on public health and the Attorney General’s Office for review of assets.
Attorney General Peter Kilmartin has a key role under Rhode Island’s Hospital Conversion Act and the law is very specific to the responsibilities of Kilmartin and his office, stating, “The department of attorney general [is] to preserve and protect public and charitable assets in reviewing both hospital conversions which involve for-profit corporations and hospital conversions which include only not-for-profit corporations.”
At the time of the agreement in 2014, Kilmartin said, “The transacting parties have worked diligently to provide regulators with the necessary documentation and information throughout this review process to make this decision, a decision I believe is in the best interest of Rhode Island’s healthcare marketplace, the community, the employees, and most importantly, the patients.”
{image_3}Kilmartin said in his statement, “Conducting a hospital conversion review requires the commitment of a substantial amount of resources for the Office of Attorney General. I commend my staff for the time and careful consideration put into this review process.”
Next Step
Del Sesto is scheduled to meet with retirees on Monday, October 2 at Rhodes on the Pawtuxet in Cranston.
Approximately 3,000 members of the pension fund are impacted by the receivership of the fund.
Related Slideshow: 10 Things to Know About One of Biggest Pension Failures in RI - St. Joseph Receivership
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