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Senator Santorum Celebrates with West Penn Allegheny Health System Their Shared Success in Securing Recent Pension Legislation Victory

Date: Aug. 23, 2006
Location: Pittsburgh, PA
Issues: Health and Health Care


Senator Santorum Celebrates with West Penn Allegheny Health System Their Shared Success in Securing Recent Pension Legislation Victory

The pensions of more than 15,000 WPAHS employees and retirees are more secure

August 23, 2006

Pittsburgh, PA - U.S. Senator Rick Santorum (R-PA), Chairman of the Senate Republican Conference, today was at The Western Pennsylvania Hospital, a part of the West Penn Allegheny Health System (WPAHS) in Allegheny County. The Senator met with employees from WPAHS to discuss the provision he secured for WPAHS as part of the Pension Protection Act, which was signed into law by the President last week.

WPAHS contacted Senator Santorum several months ago concerning the proposed pension funding rules in the Pension Protection Act that could put the pensions of more than 15,000 individuals and their families at risk.

As a member of the Senate Finance Committee which has jurisdiction over this area, Senator Santorum fought to secure and strengthen the pensions for more than 13,000 WPAHS employees and approximately 2,500 retirees and worked with hospital leaders to secure a provision that gives WPAHS relief from new funding rules until after they can refinance their bonds as part of their continued business recovery plan.

"WPAHS voluntarily assumed pension liabilities of four hospitals they acquired after the Allegheny Health Education and Research Foundation's (AHERF) bankruptcy; they were under no legal obligation to assume any portion of the liabilities of the acquired hospitals' pensions," said Senator Santorum. "Because WPAHS did the right thing and saved the pensions of more than 9,000 AHERF employees, I was proud to work with them to advocate on their behalf to include a provision in the Pension Protection Act to secure and strengthen the pensions."

"Senator Santorum's leadership on the Finance Committee clearly made the difference in securing this important provision, which will enable WPAHS to continue the positive financial recovery that began six years ago," said David A. Samuel, WPAHS Senior Vice President and CFO.

http://santorum.senate.gov/public/index.cfm?FuseAction=PressOffice.View&ContentRecord_id=1982&Region_id=0&Issue_id=0

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