New York › Information › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Gannett Retirement Plan
Sponsored by Gannett Media Corp., Pittsford, NY
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
Gannett Retirement Plan is a cash balance pension plan sponsored by Gannett Media Corp. of Pittsford, New York. For the plan year ending 31 Dec 2024 it reported 11,234 participants, 957 of them active, and net assets of $864M. It is a multiple-employer plan covering the employees of more than one employer.
Net assets came to $76,948 per participant, below the $87,623 median for defined benefit plans with 5,000 to 24,999 participants and close to the $76,035 median for defined benefit plans in information. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
Employer contributions were $24K for the year ($25 per active participant) and benefits paid were $84.9M. In a defined benefit plan the employer's contribution follows funding rules rather than a match formula, so it can swing widely from year to year.
Schedule C lists 10 service provider organisations paid $5,000 or more, with reported compensation of $6.1M: $542 per participant, well above the same-size median of $232. Administrative expenses charged to the plan were $7.5M. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $1.76B in 2015 to $864M in 2024 (down 51%), and participants from 32,928 to 11,234 (down 66%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $76,948 | $87,623 | $76,035 | $86,221 |
| Employer contributions per active participant | $25 | $9,468 | $7,015 | $10,244 |
| Schedule C compensation per participant | $542 | $232 | $354 | $344 |
| Schedule C compensation, share of net assets | 0.70% | 0.30% | 0.46% | 0.42% |
| Administrative expenses per participant | $669 | $396 | $671 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 5,000 to 24,999 participants (651 plans), information (147) and all US plans (5,308). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 11,234 | $864M | $76,948 | $24K | — | $6.1M |
| 2023 | 11,940 | $939M | $78,659 | $89K | — | $6.0M |
| 2022 | 13,357 | $927M | $69,425 | $38K | — | $8.8M |
| 2021 | 25,434 | $1.85B | $72,853 | $20.1M | — | $8.0M |
| 2020 | 26,377 | $1.93B | $73,106 | $15.1M | $0 | $7.5M |
| 2019 | 27,452 | $1.71B | $62,449 | $11.0M | — | $7.3M |
| 2018 | 28,871 | $1.59B | $55,142 | $25.2M | — | $8.4M |
| 2017 | 30,124 | $1.79B | $59,434 | $50.5M | — | $10.1M |
| 2016 | 31,293 | $1.60B | $51,201 | $25.8M | $2,000 | $11.6M |
| 2015 | 32,928 | $1.76B | $53,311 | $101M | $5,000 | $12.6M |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$939,193,953
- Employer contributions$23,532
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$23,532
- Total income, including investment results$28,089,033
- Benefits paid$84,915,274
- Administrative expenses$7,519,597
- Total expenses$92,434,871
- Net income−$64,345,838
- Net transfers−$10,410,441
- Net assets, end of year$864,437,674
Participants
- Active participants957
- Retired or separated, receiving benefits4,224
- Retired or separated, entitled to future benefits4,863
- Total participants, end of year11,234
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Willis Towers Watson US LLC | Actuarial; Consulting (pension) | $3,816,656 | $0 |
| Northern Trust Company | Trustee (bank, trust company, or similar financial institution) | $408,719 | $0 |
| Wellington Management Company LLP | Investment management | $352,146 | $0 |
| BlackRock Institutional Trust Co. | Trustee (bank, trust company, or similar financial institution); Trustee (discretionary); Investment management | $335,624 | $0 |
| Willis Towers Watson Invest SVCS | Investment advisory (plan) | $283,791 | $0 |
| Baillie Gifford Overseas Limited | Investment management | $275,366 | $0 |
| Income Research & Mgmt. Inc. | Investment management | $239,261 | $0 |
| Pzena Investment Management | Investment management | $229,758 | $0 |
| Loomis Sayles Trust Company LLC | Investment management | $92,280 | $0 |
| Harter, Secrest & Emery LLP | Legal | $58,099 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Recordkeeping fees$3,396,824
- Investment advisory and management fees$1,524,435
- Other administrative expenses$1,216,397
- Actuarial fees$419,832
- Trustee and custodial fees$408,719
- Contract administrator fees$285,291
- IQPA audit fees$210,000
- Legal fees$58,099
- Total administrative expenses$7,519,597
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Master trust investment accounts$864M · 100.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmGrant Thornton
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $30,000,000
- Blackout period during the year—
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
1ABenefits are primarily pay related1CCash balance or similar plan3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 511110: Newspaper Publishers.
Other plans of Gannett Media Corp.
| Plan | Participants | Net assets |
|---|---|---|
| Gannett Media Corp. 401(k) Savings Plan | 18,766 | $1.57B |
| Gannett Retirement Plan for Certain Union Employees | 169 | $10.1M |
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Iue-Cwa Pension Plan | Trustees of Iue- Cwa AFL-CIO Pension Fund | 11,832 | $472M | $39,897 |
| Employee Retirement Plan of S&P Global Inc. and Its Subsidiaries | S&P Global Inc. | 10,010 | $1.13B | $112,764 |
| Advance Pension Plan | Advance Publications, Inc. | 13,114 | $911M | $69,494 |
| Relx Inc. US Retirement Plan | Relx Inc. | 8,314 | $1.03B | $123,509 |
| CBS Combined Pension Plan | Paramount Global | 25,100 | $1.91B | $76,035 |
| Viacom Pension Plan | Paramount Global | 7,781 | $529M | $67,944 |
Defined benefit plans in information closest in size.
Questions and answers
How big is Gannett Retirement Plan?
11,234 participants at the end of the plan year ending 31 Dec 2024, of whom 957 were active employees, with net assets of $864,437,674. Among defined benefit plans that places it in the 5,000 to 24,999 participants band, which held 651 plans in plan year 2024.
What does Gannett Media Corp. contribute per participant?
The filing reports $23,532 in employer contributions for the year, which is $25 per active participant; the median for plans of the same type and size was $9,468 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $6,091,700 in compensation to service provider organisations, $542 per participant or 0.70% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $7,519,597. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Gannett Media Corp.. Investment advisory or management: Wellington Management Company LLP, BlackRock Institutional Trust Co. and Willis Towers Watson Invest SVCS. Trustee or custodian: Northern Trust Company and BlackRock Institutional Trust Co.. The financial statements were audited by Grant Thornton. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 9 Oct 2025. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 47-2390983, plan 001, received 9 Oct 2025; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.