Guild Pension FAQ's For DNA Employees

What is a defined benefit pension plan?

Unlike a 401k, a defined benefit pension plan provides a specific retirement benefit. This benefit is determined by a formula based on your years of service, income, age at the time of retirement and survivor benefit choice. At the DNA, you are covered by The Newspaper Guild International Pension Fund (Guild International plan). For service prior to Jan. 1, 2008, you are also covered by the Denver Newspaper Agency-Denver Newspaper Guild Pension Plan (DNA/Guild plan)

When are you eligible to receive benefits? What is the normal retirement age?

After five years of employment at a minimum of 1,000 hours per year, employees are vested and become eligible for retirement benefits. The Normal Retirement Age for both plans is 65 but employees can retire as early as age 55 and begin monthly benefits at a reduced rate.

Do you have to be a Guild member to participate in the plan?

No. DNA employees working in the Guild’s jurisdiction are covered by both pension plans regardless of union membership. However, only Guild members can vote on negotiated changes such as benefit amounts from the DNA/Guild plan or employer contribution changes to the Guild International plan. The more members we have, the better our ability to maintain or even improve the pension plans. So don’t be a “free rider.” Help support the Guild in representing you.

Who handles plan investments? How are they doing?

DNA/Guild plan: The company contracts with Prudential Financial as the custodian of the plan, Becker, Burke and Associates for third party review and Hewitt Associates as the plan actuaries. The plan is fully funded.
Guild International plan: The plan is managed by a union-management Board of Trustees. There are three union trustees including TNG President, Linda Foley and three management trustees from various newspapers including Missy Miller from the DNA. The plan is solvent.

Benefits under both plans are insured by the Pension Benefit Guaranty Corporation (PBGC), an agency of the U.S. government.

How do I get an estimate of what my monthly pension benefits will be?

For the DNA/Guild plan, you can retrieve your own pension estimate online at www.prudential.com/online/retirement or by calling 1-800-562-8838.

The Guild International plan mails out annual pension estimates. You can also request an estimate by contacting the plan administrator, Scott Bush at 1-888-893-3650 or sbush@cwa-union.org.

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