Monday, April 23, 2007

Long-term (non-union) Trib employee worried about changes in retirement plans

The Guild's ESOP advisor Chris Mackin of Ownership Associates received an inquiry from a long-term Tribune employee seeking information specific to the Times-Mirror plans and the new Tribune plan.

The employee and a group of like-minded coworkers are so concerned about the changes to their retirement plans they are considering pooling their money to hire a lawyer/accountant to provide them with an independent evaluation of the sale and its affect on their retirements. At the Los Angeles Times, management and the employees in the newsroom have formed a committee to seek answers as to how the sale affects their retirement funds.

Guild members at The Baltimore Sun and WPIX-TV have been doing their own research. With buyouts and retirement on the line, members don't have to spend time figuring out how to hire, pay for and choose experts to help them. They are already getting answers. That's just one of the things a union does better than individuals can afford to do.

As we have stated before, the information we provide should not be construed as legal, financial or tax advice provided by The Newspaper Guild-CWA or Ownership Associates, Inc.

The response to the questions are here. Further questions may be submitted to this blog or here.

(end of post)

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