PROVIDENCE, R.I. (AP) - The court-appointed receiver suing more than a dozen parties connected to the collapse of a Rhode Island hospital system’s pension fund has proposed a settlement.
The $11 million settlement needs approval from a judge and involves three entities that used to own St. Joseph’s, Roger Williams and Fatima hospitals. The Providence Journal reports the case against the other defendants - including the Roman Catholic Diocese of Providence and Prospect CharterCare - will continue.
Documents filed Tuesday indicate the settlement calls for a minimum $11.2-million upfront payment to help prop up the insolvent pension fund.
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The pension crisis came to light in 2017 after pension managers asked for receivership from a court.
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