Courier-Journal employees are about to have their pensions frozen. As of Aug. 1, C-J parent company Gannett will no longer pay into the established pension benefit program, according to a memo written by CEO Craig Dubow and provided to LEO by a current C-J employee. That memo, circulated to Gannett employees via e-mail June 11, also says the company will be improving its 401(k) program by contributing $1 in Gannett stock for every $1 contributed by the employee (up to 5 percent of pay). That’s up from the current program, which is 50 cents of stock per dollar up to 6 percent of pay.
“It is important to know that even with the improved match in the 401(k), nearly all employees at every level will see a diminished benefit,” Dubow wrote.
Sign up. We hope you like us, but if you don't, you can unsubscribe by following the links in the email, or by dropping us a note at leo@leoweekly.com.
Signup
By clicking “subscribe” above, you consent to allow us to contact you via email, and store your information using our third-party Service Provider. To see more information about how your information is stored and privacy protected, visit our policies page.
Subscribe to LEO Weekly Newsletters
Sign up. We hope you like us, but if you don't, you can unsubscribe by following the links in the email, or by dropping us a note at leo@leoweekly.com.
To sign up now, enter your email address in the field below and click the Subscribe button.
By clicking “Subscribe” above, you consent to allow us to contact you via email, and store your information using our third-party Service Provider. To see more information about how your information is stored and privacy protected, visit our policies page.
