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The New York Times is Freezing Pension Plan
PLANSPONSOR
Nov. 13, 2009
Excerpt: The New York Times Company has amended The New York Times Companies Pension Plan, a defined benefit pension plan for non-union employees, to discontinue future benefit accruals and freeze existing accrued benefits effective December 31, 2009. In a filing with the Securities and Exchange Commission, the Times said it is increasing contributions under The New York Times Companies Supplemental Retirement and Investment Plan (SRIP), its 401(k) plan, such that participants will receive a cash contribution of 3% of pay, up to applicable limits, effective January 1, 2010.
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