The Newspaper Guild of Greater Philadelphia is suing Philadelphia Newspapers LLC for merging two pensions without its consent. The union says merging a fully funded pension into a severely underfunded one would not be in the best interests of the beneficiaries.
The company says it has the right to do so because a Guild deadline has passed.
Management also says benefit payouts will not change. But if the merger is undone, the company will have to shore up the underfunded plan and that could lead to layoffs.
