Tague Calls to Protect St. Clare’s Pension Fund

Assemblyman Chris Tague (R,C,I,Ref-Schoharie) attended a press conference today in support of over 1,100 former employees of St. Clare’s Hospital at risk of losing their pensions. In 2018, all former employees of St. Clare’s Hospital were informed that their pensions will be reduced or eliminated completely.

“Protecting these folks’ pensions is simply the right thing to do,” Tague said. “They put the time in, long hours in a difficult job helping out people who had nowhere else to turn. Faithfully they paid into their system and did their due; we must in all good conscious protect their future after they’ve sacrificed so much to give our loved ones the care and attention they deserved. Now it’s time we return that care and protect the future healers worked so hard for.”

Although the hospital closed a decade ago and operations were absorbed by Ellis Medicine, a $53 million pension fund was set up to ensure that retirees were guaranteed their pensions. Currently, the St. Clare’s Hospital Corporation is seeking permission from the state Supreme Court to legally dissolve its existence. If this corporation were to dissolve, the pension fund would be eliminated.