This is a BETA experience. On May 9, 2014, Mr. Cohn granted Ascension Healths bid to dismiss the class-action lawsuit, ruling that while the church exemption from federal pension laws and regulations may appear to be an irrational distinction, it is a distinction mandated by law. At least two other courts in other jurisdictions have disagreed and allowed similar cases to proceed against plan sponsors. For our internal use to build or improve the quality of our Services. The inclusion of a link on the Services does not imply endorsement of the linked site or service by us or by our affiliates. If you access these links, you will be leaving the Services. The economy and markets are "under surveillance". Please see our Privacy Policy. This compensation may impact how and where listings appear. However, the Pew report estimates that the aggregate pension funding gap has since increased by an additional $500 billion through March 2020 based on market pandemic losses. Bloomberg Surveillance, covering the latest news in finance, economics and investments. Some of the better funded states such as Tennessee and South Dakota have incorporated innovative cost-sharing features into their plan design, in addition to consistently making their full actuarial contributions annually. Please note that our collection, use, disclosure, and processing of personal information about individuals will vary depending upon the circumstances. Ascension Health to Guarantee $29.5 Million in Pensions Following Church Plan Lawsuit, Natixis: Portfolios Favoring Active Management See Strong First Half, Pension Funds Sue Silicon Valley Banks Officers, Auditor KPMG Following Failure, Blackstone Raises Record $30.4 Billion for Real Estate Fund, New York Common Commits $1.3 Billion to Sustainable Program, Cambridge Associates Reaches Minority Investment Target, Sets New Goal, Why Infrastructure Investments Are the New Bonds. ), chairman of the House Ways and Means Committee, which held the hearing. [CDATA[/* >