Following a massive $3 billion drop last year in the value of its pension fund for New Yorks largest health care union1199 SEIUthe fund, its trustees and hospitals agreed to stay in the red zone and develop a plan to stabilize the fund. That vote to protect the funds remaining $6 billion in assets by not going green is the exact opposite of a vote Wednesday regarding the status of a much smaller pension fund for nurses that was in the same predicament.
Health union takes hard line on $3B pension losses
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