Legal question about employer fraud on retirement

[jbs38654]

I wouldn't advise getting into the class action suit
I would do it personally you'll get more out of it because the bulk of the class action money will go to paying for the attorneys
They have screwed up on more than this but that is all I will say about this matter

[mshunter77]

Oh and they are still taking out 3% of their pay for the pension plan that is not available and they won't stop that until they figure things out.

I may be a little confused on a "Pension Plan". I thought that the employee did not make contributions to a pension plan, only employer.

The hospital system was supposed to pay the majority of it. Some pension plans are split and some are paid in full by employer.

[GulfCoast]

It is quite the talk of the town down here.

[DoublePslayer]

Ok there is a lawyer meeting with people today to start a class action suit against the hospital system. The hospital claims they can not sue because there is no entity over this program because it was something the hospital did on its own. They are giving people the option to cash out what they have put in or roll it over into a 401k and they will match 50 cents on the dollar on what they roll over. I told my wife to go ahead and go today to start the process of cashing hers out before the lawsuit got started and the funds were tied up. So she did and they told her she could not do it until they figured things out and that would not be until next year sometime. Hopefully none of you work for Baptist Hospital as the former CEO that lead them down this road is now CEO there. Really frustrated and pissed off with this whole situation.

My wife works for Baptist, and has for a couple of years now. We were talking the other day about her job, and the CEO's name came up, and rang a bell. Now I know why. If he pulls this crap at Baptist, y'all won't have to worry about his butt anymore. I know where there is a heard of about 30 wild pigs that are going to be hungry this winter.

[mshunter77]

Ok there is a lawyer meeting with people today to start a class action suit against the hospital system. The hospital claims they can not sue because there is no entity over this program because it was something the hospital did on its own. They are giving people the option to cash out what they have put in or roll it over into a 401k and they will match 50 cents on the dollar on what they roll over. I told my wife to go ahead and go today to start the process of cashing hers out before the lawsuit got started and the funds were tied up. So she did and they told her she could not do it until they figured things out and that would not be until next year sometime. Hopefully none of you work for Baptist Hospital as the former CEO that lead them down this road is now CEO there. Really frustrated and pissed off with this whole situation.

My wife works for Baptist, and has for a couple of years now. We were talking the other day about her job, and the CEO's name came up, and rang a bell. Now I know why. If he pulls this crap at Baptist, y'all won't have to worry about his butt anymore. I know where there is a heard of about 30 wild pigs that are going to be hungry this winter.

There is more and more coming out about his time there. He was an accountant I believe at the firm KPMG before getting into the hospital business. He hired KPMG to do the accounting for the hospital system. Well after he left for baptist and it people started seeing some issues with accounting and the hospital was struggling so the county had another firm come in and do an audit. That audit showed that KPMG had done some funny number crunching that actually had the hospital getting $88 million in revenue that it never did and never will get. Although this made Anderson look good and helped keep people off his back. Also they found that KPMG had done some odd accounting practices with the pension plan to make it look like everything was ok with that. I find it hard to believe that he did not have some friends from his old employer cooking the books for him. I don't see why KPMG would do that on their own. Just too many coincidences involved with this guy. He hired two people that came from I think it was Baptist of Nashville that also used KPMG and apparently about the same thing happened their and they were forced to sell. There may be a lawsuit against KPMG out of all this also.

[jacksbuddy]

^^^Day-YUM^^^

Note to self - Wife does NOT go to work at Baptist.

[mshunter77]

Well class action suit has started. Now all funds will be tied up for years and I am sure my wife will never see her money. I hope this winds up costing the people responsible a ton of money in legal fees. The by laws say something about that after the lawyers get their money that the administrators will get their money out of it then people in the lawsuit will get what is left.

http://www.sunherald.com/2014/12/11/596 ... 100/&ihp=1