This comment was apparently left by a retiree:
Knight Ridder retirees just got a notice that their trust management was being taken over by McClatchy and will still be managed through Northern Trust which they already had. It wouldn't surprise me a bit to see McClatchy try and raid it if there is a way for them to get away with it. They have proved to be pretty much a pack of thieves, so anything is possible.In a followup comment, another reader says pensions in a bankruptcy case go to the PBGC:
if you are in a pension plan, federal ERISA law says it is supposed to send you a statement each year on its assets and obligations; plans that can't meet obligations could end up, in a bankruptcy case, in the federal Pension Benefit Guaranty Corp. and have benefits reduced. Mcclatchy probably can't estimate plan yet since stock market fell steeply.
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