The New York Times Company Retirement Annuity Plan for Craft Employees of The New York Times Company (RAP) Plan 020926
The New York Times Company established the Retirement Annuity Plan for Craft Employees of the New York Times Company (RAP) to provide a lifetime benefit when you retire. There are two parts to the plan:
Non-contributory retirement benefits based on your pay while you were a member of the plan, and
Contributory retirement benefits related to contributions you made while you were a member of the plan.
This kit provides a high-level summary of the plan in effect for employees in service on or after January 1, 2000. For more detailed information, please refer to the Plan’s Summary Plan Description.
Company contribtions. The Company makes all of the contributions necessary to provide your non-contributory benefits from the plan.
Member contributions. You may make voluntary contributions to RAP only if you are not contributing to the Payroll Investment Plan. If you decide to make voluntary contributions you can choose to contribute between 2% and 5% of your earnings through payroll deduction. Your earnings are your regular pay, not including overtime or other additional compensation.
You can change your voluntary contributions twice in any calendar year, and can suspend or resume them at any time. However, you forfeit your right to make future contributions to the RAP if you choose to contribute to the Payroll Investment Plan.
You can make withdrawals from your voluntary contributions to meet personal financial needs while you are employed. Once a year, you may withdraw all or part of your total voluntary contributions, plus interest. You will be provided with a personalized statement with your withdrawal choices and will not be able to make contributions for three months after making a withdrawal. Note: Withdrawals are not permitted once you start receiving retirement benefits.
To make a withdrawal, contact Vanguard.
Member contributions are credited with interest while you are employed.
