“The St. Clare's pension plan collapse has its roots not just in the state-ordered shutdown of the hospital 10 years ago, but in more than a decade's worth of financial struggles that led up to the closure and a chain of events that followed. In retrospect, it seems almost inevitable that the fund would run out of money too soon … It used a $28.5 million state bailout to satisfy the existing guaranty. …” (Note: Church pension plans, like state and government plans, can be exempt from ERISA.)

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