PROVIDENCE, R.I. (WPRI) — After more than seven years of battling to secure lifetime benefits, thousands of pension holders can finally breathe a sigh of relief. A Superior Court judge on Monday approved a petition to have a federal insurance program cover the retirement benefits of those orphaned by the St. Joseph's Health Services pension plan. "The pension holders are getting what they worked for and what they deserved and that's coverage, and I couldn't think of a better time of year to have that happen," court-appointed receiver Stephen Del Sesto said. BACKGROUND: After years in limbo, thousands of St. Joseph pensioners will see benefits covered for life The Diocese of Providence sold St. Joseph's to Prospect Medical Holdings about a decade ago, which stopped paying into the pension plan. In 2017, Saint Joseph's Health Services pension plan went into receivership, prompting pensioners to protest. Through millions in settlements aimed at recouping funds, special counsel secured enough money to allow the receiver to continue paying out full benefits as the issue was pending. On Dec. 3, the Pension Benefit Guaranty Corporation — a federal program that insures retirement plans — stepped in and agreed to cover the promised benefits for the plan’s nearly 2,700 active and pending members. Del Sesto told Target 12 this is the first time in history the PBGC has covered a church plan. Lynn Blais, a registered nurse with 40 years of experience, expressed her relief over the outcome, saying it "truly was well worth the fight." "If you took away their pension, any amount of their pension, it would have been devastating," Blais said. "These are not people that are living big, extravagant lifestyles. These are people that are living day to day on a $1,500 pension a month." While Del Sesto noted that the transition will take a couple of months to fully complete, there will be no lapse in benefits, and pension holders should not notice any difference. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Breaking News SIGN UP NOW