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NYT Co. Retirement Plan Stung by $154 Mil Loss

The 401(k) retirement plan for New York Times Co. employees, including workers at The Boston Globe, suffered $154 million in investment losses in 2008. Net assets of the plan fell to $417.7 million.

The plan was particularly hard hit by some $171.5 million in losses at several mutual funds. On the other hand, investments in fixed income and insurance assets generated $5.3 million in income. Dividend income of $11.6 million also helped offset losses.

The Times matches a fraction of Globe employees' contributions to their 401(k) accounts, however a proposal in front of Boston Newspaper Guild leadership would eliminate that program.

Read the whole story at Boston Business Journal »

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