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Foss: Use Federal Funds to Help Retirees
These were difficult years for the retirees of St. Clares Hospital.
First, they learned that their pensions would be cut or cut dramatically, robbing them of their retirement security.
Then they saw state, church and hospital officials who signed the St. Clares shutdown in 2008 deny responsibility for their predicament, and the pressure for a bailout grew. is stopped.
It was all very disheartening.
And then the pandemic struck.
It’s really more difficult, told me Mary Hartshorne, the 70-year-old retiree who chairs the St. Clares Pension Recovery Alliance. I hear from retirees who are sick with cancer and who may not live long enough to see help materialize. I hear some who could lose their homes.
The pandemic has only added salt to our injuries.
The massive federal stimulus package passed earlier this month appears to offer reason for hope: it contains $ 86 billion to save failing pensions.
That’s a huge amount of money, but it only applies to union pension plans, leaving St. Clark’s retirees in the same place they have been since the end of 2018.
In the cold.
It’s an unfortunate omission, and an omission that New York’s political leadership – a group that includes Senator Chuck Schumer’s majority leader – should rectify as soon as possible.
St. Clares retirees deserve no less pensions than unionized workers who will benefit from the federal stimulus package.
So why not find a way to give them the help they need?
It should be noted that the stimulus package, at $ 1.9 trillion, is extremely generous, distributing money to households, states, local governments and schools, raising unemployment benefits by $ 300 per week. and helping restaurants, live entertainment venues and the like. companies.
The enormity of the bill makes the lack of support for retirees in St. Clares all the more maddening.
Here’s a relief package for just about anyone – surely our elected officials can come together and find the funding needed to restore the pensions of Hartshorne and his retired colleagues.
The shortfall, estimated at $ 50 million, may seem like a lot of money.
But that’s a tiny amount when you consider the sheer size of the stimulus package and the amount of federal aid that’s already out there.
President Biden says he wants to help all Americans with a bailout, Hartshorne said. Were Americans and we must be saved. … I have 1,100 members that need to be put back together.
Most retirees are over the age of 50 and have struggled to find new jobs in an economy ravaged by a pandemic. Many have struggled with depression.
Hartshorne, who worked at Schenectady hospital as a sonographer, had planned to retire to a cute little house on the shores of Lake Mariaville.
The unexpected reduction in her pension forced her to change course.
She sold the lake house, which hit me hard. It was my place to retire. I loved it there. But there was no way I could afford it.
St. Clares retirees have always deserved better, and the massive federal stimulus package, and the broader federal effort to help Americans in need, is an opportunity to rectify a shameful situation.
Heres hoping that our elected officials can right this terrible injustice.
Join Sara Foss at [email protected] The opinions expressed here are his own and not necessarily those of the newspaper.
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