Glossary

Break in service. A break in service occurs in any plan year in which 500 or less hours of service were completed. Calculations to determine breaks in service occur at the end of the plan year.

Contributory and non-contributory benefits. A contributory benefit is a pension benefit derived from any amount you have contributed from your after-tax pay to augment your retirement benefit.

A non-contributory benefit is a pension benefit that is derived from a calculation that takes into account a percentage of your career earnings, your age and years of service. There is no cost to you for this benefit since it is paid for by The New York Times Company.

Your contributory benefit and your non-contributory benefit are added together to obtain your total benefit.

Credited service. A year of credited service is earned if you work the minimum 1,000 hours in a calendar year, except in years where you have either entered the plan, terminated or rehired. In those years the hours requirement is prorated based on completed months. It also is referred to as accrued service.

If you worked less than 1,000 hours in any calendar year, you earn partial credit, as follows:

Hour of service. Each hour of service for which you were paid or entitled to payment for the performance of duties for the Company or an affiliate, or during which you were on vacation, holiday, illness, incapacity, layoff, jury duty, military duty or leave of absence.

Pension Estimator. This integrated calculator allows you to perform “what if” calculations for your retirement planning. Only three fields need to be populated to receive an estimate of your pension benefits. The Pension Estimator saves all estimates that are created by you via the Web, as well as estimates that are created when you contact Vanguard Participant Services.

Plan year. The 12-month period from January 1 to December 31.

Union. The PIP covers members of the following unions:

• New York Newspaper Printing Pressmen’s Union No. 2
• Newspaper and Mail Deliverers’ Union of New York and Vicinity
• New York Stereotypers’ Union No. 6
• New York Lithographers and Photo-Engravers’ Union No. 1-P
• New York Mailers’ Union No. 6
• New York Typographical Union No. 6
• Paper Handlers’ and Straighteners’ Union No. 1
• American Federation of Television and Radio Artists
• International Association of Machinists and Aerospace Workers, District No. 15
• International Union of Operating Engineers, Local 30, AFL-CIO
• Local Union No. 3 International Brotherhood of Electrical Workers
• Local Union No. 68, 68-A, 68-B International Union of Operating Engineers, AFL-CIO
• Radio and Television Broadcasting Engineers’ Union Local 1212 IBEW, AFL-CIO
• The New York District Council United Brotherhood of Carpenters and Joiners of America
• United Association of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry, Plumbers Local 2

Vanguard Participant Services: 800-523-1188. You will be asked to verify certain information, and to provide the date (or dates) on which you are considering retirement.

Vesting service. A year of vesting service means a year of service during which you work at least 1,000 hours.

Year of service. A period in which you work 1,000 hours of service in 12 consecutive months.

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Questions? Call Vanguard® Participant Services at 800-523-1188.
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