IRS approves New York Times adjustable pension plan

2014-06-20T21:15:07-07:00June 20th, 2014|Categories: Retirement|Tags: , , |

The IRS approved the Newspaper Guild of New York and New York Times’ application to begin an adjustable pension plan that will allow the newspaper company to keep a defined benefit plan structure, said Bill O’Meara, president of the guild. In November 2012, the guild and the Times concluded collective bargaining and agreed to freeze the $275 million defined benefit plan and replace it with a new adjustable pension plan. The new plan structure, which shares the investment risk [...]