Special Master: Settlement deal on SRHS pension plan to come in 7-10 days

After nearly a year long fight to get the pension benefits they were promised, Tuesday a judge told Singing River Health System retirees they should sleep restfully from now on. Special Master Britt Singletary appointed an independent trustee, former Circuit Court Judge Steve Simpson, to oversee the pension. And he said an announcement of a settlement deal between the health system and retirees is close at hand…

…Retirees who had packed into the hearing also heard encouraging words from Special Master Britt Singletary. He said the outgoing trustees have already resigned pending the appointment of the special fiduciary. He said Simpson will be getting with the outgoing trustees and the transition will take some time because the funds are now in three different banks and will be moved to the Peoples Bank in Biloxi as part of its trust department.

Singletary also spoke of what he said is a soon to be announce deal.

“All sides have agreed to a settlement that is going to be 100 percent payout. I think in a week to 10 days we’ll be announcing a settlement,” Singletary said. “I told the retirees to go home and sleep restfully tonight. They wear shirts that say ‘Do the Right Thing’, and everybody is trying to do the right thing here.”

WLOX
9/29/15