A new federal law would have forced Ohio Valley Medical Center to come up with $23 million over nine years to fund its employees’ pension plans. Human Resources Senior Vice President James Stultz said that’s a financial burden the company can’t take on, so they’re forced to freeze pension plan participation.

Stultz said the company will no longer contribute 6 percent of the employees’ salary, but money employees have already accumulated will be available when they retire.

Their plans can continue to grow under the federal rate, which is 5 percent for 2007.

OVMC is making improvements to its 403(b) plan, which is similar to a 401(k), and is encouraging employees to take part in it.

Stultz said OVMC will match 25 cents per dollar, up to 4 percent of the employee’s salary contribution, instead of the previous 2 percent.

Stultz hopes improvements to the 403(b) plan will continue. Both active and new employees can participate in that plan.

Stultz said the changes are unfortunate, but the company is doing the best it can for its employees.