Frequently Asked Questions

The Company Retirement Program

Why are you making changes?

Because you asked us to and it makes sense. In our benefits survey, you told us you want retirement saving to be simple (which we totally get!). So, we took the challenge and simplified our retirement plans to make it easier for you to plan for the future. 

Why are you changing the name of the Cash Balance Plan to the Company Contribution Plan?

We know it’s not exactly the most creative name, but it tells you exactly what you need to know about the plan—and we sorta like that: The Company and our family of business units provide you with a Contribution to your retirement (Plan). 

Why do I need to have two retirement accounts?

It’s important to the Company that we partner with you to invest in your retirement, because you’re important to us. In the past, we’ve provided a really competitive retirement program, but it was also really complicated. In our benefits survey, you asked us to simplify our retirement offerings. 

You don’t need to do anything to get the Company’s contribution to the Company Contribution Plan. We’ll say it again: You don’t need to do anything to get the Company’s contribution. It’s basically free money. And who doesn’t love that? That said, we still recommend you contribute to your 401(k) to save for retirement as well. We can’t tell you what to do, but you really, really should. Together, the two plans will help you plan for the future. 

What’s the difference between the Company Contribution Plan and the 401(k)?

To put it simply (which is sort of the point here), the Company Contribution Plan is powered by the Company and the 401(k) is powered by you. When you put them together, you get a comprehensive retirement benefit that can help you save towards your retirement goals. 

But, of course, there’s a bit more to it. Check out the details on how the plans are the same—and how they’re different:


Am I eligible for the Company Contribution Plan?

General information about eligibility can be found here. Once you are a participant, you will always participate unless you terminate employment with the Company. For additional details about retirement benefits eligibility, refer to the Retirement Summary Plan Descriptions on GHConnect.

If I’m eligible, what do I need to do to get the Company Contribution Plan?

We don’t think we can say this enough. All you need to do to get the Company Contribution Plan is work here. That’s it. Nothing else. We promise.

Do I need to invest any money in the contribution plan?

Nope. Your account is not invested. You’ll see modest gains in this account but you (again) don’t need to do anything. See the next question below for more.

Can I lose money in the Company Contribution Plan?

No. One of the great things about the Company Contribution Plan is the stability it offers. Your Company Contribution account is credited with interest at an attractive rate (6.37% for 2024). Your Company Contribution account cannot lose money due to investment fluctuations. Your Company Contribution account is backed by a fully funded trust fund, as well as by Graham Holdings Company, and insured by a federal agency called the Pension Benefit Guaranty Corporation.

What happens to the Secure Retirement Account (SRA)? Can the balance be combined into the Company Contribution account?

Future pay credits to the SRA will freeze effective 12/31/2023 and interest credits will continue for existing account balances. The SRA cannot be rolled over into the Company Contribution account nor can the SRA benefit be taken while active with the company. The SRA and Company Contribution Plan (formerly the Cash Balance Plan) will be viewable on the GHC Retirement Center. 

What happens to my Company Contribution account if I leave the Company?

You’re vested in the Plan after 1 year of employment (down from 3), and then you can take the money with you. Yup, it’s all yours.

The 401(k) Savings Plan

What do I need to set up my 401(k)?

Your 401(k) plan is accessible at Vanguard. If you need to enroll, elect a beneficiary(ies), change how much you're contributing or change your investments, contact Vanguard either online or by phone. 

Any new hires sent on the feed to Vanguard on or after January 1, 2024, including those hired mid to late December, are automatically enrolled with the default options at Vanguard. The contribution rate for new hires is set at 4%. You can opt-out at any time.

How do I choose how to invest the money in my 401(k)?

Your 401(k) plan has several different funds you can choose from. For example, the plan offers target date funds, which balance the risk of the investment with how soon you will retire. The sooner you’re planning on retiring, the less risky the investments will be. Visit Vanguard online--they offer a variety of tools to help you review the investment choices available to you.

Can the money in my 401(k) decrease?

Well, yes. We hope it doesn’t, of course, but the money in your 401(k) gets invested, which means it might grow, but it might also go down, depending on the market.

How do I choose which type of 401(k) contributions to make?

There are three ways to contribute to your 401(k)—before tax, after tax and Roth. Which option is right for you depends on your specific circumstances. Here’s how they compare:

1 Certain withdrawals may be subject to an additional penalty tax.

What kind of loan can I take out from the 401(k)?

Yes, we know it’s ideal to keep that money in your 401(k) and to just let it grow until you retire. And in an ideal world, that’s what you’ll do. But you’ll have the ability to take out a loan from your 401(k). It could be a big help. Here’s how loans work (new in 2024):

What happens to my 401(k) if I leave the company?

This is your money that you contribute, so it’s yours if you leave. You will have several options of how to take the money with you or you may keep it in the plan—it's your choice.

Resources

How do I get more information about my retirement accounts?