§ 17-22. Responsibility of Hospital Service District No. 1 to fund West Jefferson Medical Center employee's pension.

Jefferson Parish Hospital Service District No. 1 shall fund the West Jefferson Medical Center employee's pension from the proceeds of the lease of West Jefferson Medical Center's facilities as follows:

(1)

The Jefferson Parish Hospital Service District No. 1 shall fund the 2015 and 2016 actuarially recommended contribution payments in order to bring the fund balance current for the Pension Plan for Employees of West Jefferson Medical Center;

(2)

Those eligible pension plan participants of the Pension Plan for Employees of West Jefferson Medical Center will receive buy-out information from AON Hewitt, Jefferson Parish Hospital Service District No. 1's Pension Plan administrator within ninety (90) days; and

(3)

Upon completion of the specified net working capital process, by and among Jefferson Parish Hospital Service District No. 1, West Jefferson Holdings, LLC, Louisiana Children's Medical Center and Children's Hospital of New Orleans, Jefferson Parish Hospital Service District No. 1 shall bring the Pension Plan for Employees of West Jefferson Medical Center to an actuarially sound condition to meet future funding obligations.

(Ord. No. 25409 , § 1, 8-9-17)