Pathway Health Network and Beth Israel Health Association, both in Boston, may combine their endowment and other non-pension pooled funds, totaling $541 million and using 17 investment managers, if a merger between the two hospital organizations is completed. The groups also may combine their pension funds, totaling $208 million, although the issue hasn't been explored yet.
Representatives from both organizations said the merger is imminent. They expect the two groups to tackle the combination of pooled and pension funds in several months, after other financial issues pertaining to the merger are addressed. The groups haven't discussed whether to hire a consultant to advise them on combining the funds.
Pathway has $235 million in non-pension pool funds. New England Deaconess Hospital in Boston, the largest in the network, also has a defined benefit fund of $89 million and a 401(k) fund of $50 million. Figures for the other Pathway hospitals were unavailable. Beth Israel has a defined benefit plan of $69 million and non-pension trust and pooled funds of $306 million. Beth Israel doesn't have a 401(k) plan. It uses 12 managers, which manage money for all of its funds. Their names were unavailable.
