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UNION WIN! 401(K)

HPAE took Hudson Regional back to bankruptcy court to enforce 401(k) payment as outlined in the original term sheet.

While in court, HPAE convinced the bankruptcy judge to agree to preside over timelines for BOTH Missed 401(k) matches.

HRH and HPAE came to an agreement, and the judge issued an enforceable order memorializing CarePoint’s (HRH) agreement to make the required payments.

Here are the terms of that agreement for the 2023 401(k) match (due in equal deposits October 2025- February 2026 per the bankruptcy order):

  • HRH will send full 2023 match amount to an escrow account held by an attorney (not HRH) by Feb 20, 2026
  • HRH will provide proof of all participants and amounts owed. Any errors must be corrected by HRH.
  • CoreBridge must calculate lost earnings by Feb. 27, 2026
  • HRH has 3 days after this to make the payment to the plan and then provide the union with proof of deposit of full 2023 401(k) match with lost earnings. (March 2, 2026)
  • Proof of deposit of full amount plus lost earnings to be sent within 5 days to union.

Here are the terms of that agreement For the 2024 401(k) match (due October 2025):

  • March 20 and every 20th day of each following month through August 20, 2026 HRH will deposit equal monthly amounts of estimated 2024 401(k) match.
  • Money will be held in an account held by an attorney (not by HRH)
  • By August 14, CoreBridge shall calculate lost earnings.
  • HRH must deposit full match for 2024 401(k) with Missed Interest into the401(k) plan 14 days after the calculations.
  • HRH Must provide proof of deposit into plan of full amount plus missed interest.

HRH must fix any errors. The Union does not waive a right to challenge errors.

In solidarity,

HPAE 5186 Executive Board