West Penn Allegheny adds to pension plan

| Thursday, Sept. 16, 2010

West Penn Allegheny Health System on Wednesday said it made an undisclosed contribution to its pension plan.

Spokeswoman Kelly Sorice said federal rules prohibit the region's second-largest hospital network from disclosing the amount before notifying bondholders. The network's pension plan is underfunded by $98 million, according to the system's financial filings for fiscal year 2009.

The underfunding has been cited as one of several factors that prompted a June downgrade of its bond rating. Moody's Investors Service said West Penn Allegheny was expected to put $43 million into the pension plan this month.

The network, which significantly decreased contributions last year, is expected to put in about $77 million in the pension during the current fiscal year.

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