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Unfunded St. Elizabeth Retirement Plan...

"New Hospital" Smoking Gun?

Utica's Unfunded Hospital Retirement Plan

St. Elizabeth Medical Center
A New Hospital Downtown

Consider: Affiliation: Faxton-St. Luke’s & St. Elizabeth

August 15, 2018 (Update) - This link was offered, St. Elizabeth, Faxton St. Luke's Move Forward With Affiliation, along with this comment, "So what was in the certificate of need need from 2012?"

Would this be the CON?

Project Number: 1332204
Facility Name: Faxton-St Lukes Healthcare St Lukes Division
Project Description: "Establish Mohawk Valley Health System as the active parent/co-operator of Faxton-St. Luke's Healthcare, St. Elizabeth Medical Center, St. Lukes Home RHCF, VNA of Utica and Oneida County, and Mohawk Valley Home Care."
Submission Type: Application - Full Review - Establishment - Change in Ownership/Merger/Consolidation.

Search for your copy here: NYSCON (Note: only a basic profile of the C.O.N. can be accessed, we're investigating...)

July 11, 2018 (Update) - Below we share intel regarding the St. Elizabeth Retirement Plan. Last week we were informed that New York State is making the payments, that means you, if you're paying taxes in New York. Also, another person stepped forward and recalled a story of an employee who had been told her pension plan was close to, or insolvent, a number of years ago. Just "Google" terms like; "pension funds", "pension crisis", and "insolvency", and you'll see warnings like "on verge of failure"... this website, Pension Tsunami, tracks the mess. So the $300M grant was intended to somehow "smooth-over" a pension system bailout, yet turned into a new downtown hospital?


We've been informed St. Elizabeth might have a financial issues related to their retirement fund. We were told their retirement fund is not properly funded. Someone asked us, to ask the question, "Who is making the St. Elizabeth retirement payments?"

Partial messages that tipped our hand to this issue follow...

Lol.... the place to look is in the projected pro-forma balance sheet once the entity is one Well the state would have to have bailed out nearly $300 million with nothing to show. Now they do and can dictate. If you only knew. Wish I didn't.

You need to know where to point them. It is all St Elizabeth...

Depends... they were going bankrupt several years ago....... who owns them btw??

You don't know that....

This is sooo political its not funny and is cement shoe material.

Will be interesting... did Keeler get briefed about the unfunded liability issue? Press loves dirt

It is the pensions. There is no fund and the liability is near $300M. Anyone on their board that has access to the balance sheets should be able to tell you what the value of the fund is.

Further, the question of what they planned to do with the pension liability when they were preparing to go bankrupt would be interesting.

FOIL their pension plan...

Well kept secret... as long as you are making payments AND remember... the other FS holdings maybe making payments. Who is liable?

The board must know.I suspect it is the very reason the merger did not happen. Where is the report that the state originally funded? All those records and meeting notes are public for FOIL.

The original study had nothing to do with building a new hospital. Where is that?

Things like this do happen, all while taxpayers have little say or even knowledge, for example Taxpayers To Bailout Union Pensions

We have t-shirts! Surly to become collector items as true facts of Utica's #HospitalOfCards surface...

Corrupt Healthcare Is Bad Healthcare.

Three years of reporting... add these new stories from #Emailgate, all that's missing is a cold body - and we'd have a modern day set of Mob Files!

Hey, wasn't this suppose to be about a healthcare transformation?

No Studies, No Reports, thus we remain #NoHospitalDowntown