Thursday, January 1, 2009

Retirement savings figures

This report by the Lake County News documents the numbers behind MediaNews' recent announcement that funds-matching will be suspended for the indefinite future.

We're getting similar accounts from groups across the country, so the move appears to be company-wide, although that remains speculation at this point.

But assuming that the plan affects all MediaNews properties without contractual language guaranteeing funds-matching participation, the Lake County News lists the company's 2007 expenses at $5.8 million for 11,880 employees. How many of those employees are unionized or under some other form of contractual protection is not known.

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