April 22, 2010
Retirees, employees sue Augsburg Fortress over pensions
The April 22 Wall Street Journal reports that Augsburg Fortress retirees and employees are suing the ELCA's publishing ministry over pension woes.
The complainants allege that Augsburg Fortress "allowed their pension plan to fail, and used its connection to the Lutheran church as a legal shield to avoid paying them all their pensions," writes Ellen E. Schultz for the WSJ.
"Church plans ... don't have to tell employees how healthy their pension plans are, so bad news can come as a shock," Schultz wrote. "That happened to Augsburg Fortress employees in January. The company sent letters to the 500 employees, former employees and retirees explaining that most would receive only a portion of their pensions, paid out in a check in March."
Click here to read the Wall Street Journal article.