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Evanston-based NorthShore University HealthSystem is making voluntary retirement offers to about 3 percent of its 10,000-person workforce.

The move, announced Thursday in a letter to employees, and first reported by Chicago Health Care Daily, follows an announcement earlier this week that NorthShore plans to freeze its employee pension plan at the end of the year and shift all workers to a defined-contribution savings plan.

Both are seen as cost-cutting moves ahead of the implementation of key parts of the federal health care reform law.

“NorthShore must adapt and change to meet these fiscal challenges,” NorthShore’s chief human resources officer, William Luehrs, wrote in the letter announcing the retirement program.

NorthShore’s pension program was 75 percent funded as of Sept. 30.

Original story

Bill Smith is the editor and publisher of Evanston Now.

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2 Comments

  1. Chickens come home to roost

    The NY Times highlighted recently how NorthShore University had been gouging consumers through their monopoly practices as the hospital has gobbled up competitors in the region.

    The FTC busted them for pushing up prices through a ruling in their antitrust office.

    1. NorthShore

      This is true, but the senior management of this 'nonprofit' health system are not the ones who will be hurt by this move. The workers will have their benefits cut, but the big guys will be OK.

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