Tuesday, September 25, 2012

Federal takeover of B’nai B’rith pension raises questions on group’s future

Volunteers in 2008 at the Homecrest House in Silver Spring, Md.,
one of B'nai B'rith International's network of independent living facilities for senior adults.
B'nai B'rith has had its pension program taken over by the federal government.
(B'nai B'rith International)
The U.S. government’s recent takeover of B’nai B’rith International’s pension plan, which is more than $25 million in debt, raises serious questions about the long-term viability of the 169-year-old, once-giant Jewish organization.

The plan, which has about 500 participants, has $55.6 million in liabilities but only $30.1 million in assets. On Sept. 11, the federal government’s Pension Benefit Guarantee Corp. said it would assume control of payments and raised questions about B’nai B’rith’s future. -- Neil Rubin, JTA

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