Case: 1:11-cv-02788 Document #: 23 Filed: 05/20/11 Page 4 of 9 PageID #:158THE PLAN13. The Plan is a tax-qualified, single-employer, defined benefit pension plan that iscovered by Title IV of ERISA. 29 U.S.C. § 1321(a).14. The Plan provides pension benefits to certain former employees of FBOP, and tothe employees’ beneficiaries.15. The Plan has approximately 2,589 participants.COUNT 116. Paragraphs one through 15 are incorporated by reference as if set forth fullyherein.17. PBGC is authorized by 29 U.S.C. § 1342 to commence proceedings to terminate aplan whenever PBGC determines, inter alia, that a plan will be unable to pay benefits when due,29 U.S.C. § 1342(a)(2).18. Pursuant to 29 U.S.C. § 1342(c), a district court may order the termination of apension plan if necessary to protect the interests of participants or to avoid any unreasonabledeterioration of the financial condition of the pension plan.19. On information and belief, FBOP is liquidating all or virtually all the assets of itscontrolled group members over approximately the next two years.20. On information and belief, FBOP and its controlled group members haveliabilities of approximately $882 million. Of those, approximately $309 million are secured.21. On information and belief, FBOP expects to have approximately $281 millionavailable for creditors after liquidating its assets.4

MEDIAN SALARY BY REGION AND SELECT CITIESMinneapolis$88,000Northwest$104,500Plain States$82,659Chicago$99,500Northeast$98,000West$95,000Midwest$98,750Mid-Atlantic$100,000Boston$94,000New York$98,600Seattle$125,000Central$74,750 Southeast$94,000Washington, DC$96,500San Francisco$100,700 Los Angeles$89,000Dallas$80,000Miami$113,500“It’s not like we are consistently losing people to a particularcompetitor,” she says, “but it will be interestingto see how social media plays out as a skill set that allkinds of companies are looking for right now.”Mary Henige, director of social media, digital communications,research, and reputation strategy for GeneralMotors, says the automaker relies heavily on agency supportin this area, but she certainly recognizes the growingdemand for digital and social media professionals.“My LinkedIn invitations for jobs number in the dozenseach week,” she reveals. “Employers need to do theirhomework to ensure they’re getting people who do whatthey say they can. There is a huge difference betweenworking on an account, leading digital business, andactually knowing how to do the work.”“Digital and social media PR will continue to be a massivegrowth area,” adds Henige. “It will also attract userexperiencepros, graphic designers, Web developers, ITgurus, and marketers. As communications experts, wehave to be broad minded enough to know we do notknow everything and cannot do it alone in this respect.”Employee satisfactionA common sentiment among those PRWeek interviewedis that hires are coming into their organizations withlarger salaries than they would have received even just ayear or two ago.As a result, employers are particularly focused on ensuringexisting talent is competitively compensated, especiallythose who have been in similar positions for anumber of years and may have only seen modest pay increases,if any at all.“If someone does come in a little higher than where aparticular group of people are, we will look at the entiregroup and ponder whether or not to make adjustments,”says Leah Ciappenelli, HR director at Shift Communicationsin Boston, who oversees all three of the firm’s locations(New York and San Francisco being the other two).With the myriad promotions Ketchum made acrossits North American network last year, “we also saw compensationsatisfaction rising in our employee surveys,which is a great sign our compensation is increasing,”suggests Rafferty. “We’ve been able to take care of toptalent by continuing to move them up.”Factors beyond base salary have always been a keyconsideration in the compensation equation. This yearis no different, as the majority of survey respondentsrated perks such as a 401K and medical plans as “veryimportant” (67% and 79%, respectively).However, the focus on improving employee benefitpackages seems to be rising, both in terms of satisfyingcurrent employees and attracting new ones.Linhart PR, a 31-person shop based in Denver, is anexample of a smaller agency that uses its benefits packageto not only keep, but also attract staffers from outsideits local talent pool. The firm does national and internationalwork, “so we look at a national candidate pool,”says Sharon Linhart, founder and managing partnerof the agency. She recognizes that her firm has tooffer competitive salaries, yet the agency also gives allstaffers (excluding the owners) quarterly cash bonusesdetermined by the company’s profitability.“Employees tell us that is the most popular benefitwe offer. It is something that works and has been a part89%of agencyrespondentssaid they plannedto increaseheadcount inthe coming yearMarch 2014/

SALARYSURVEY2014of our success throughout the years,” adds Linhart, whonotes her agency has been growing its revenues by about10% per year. “Many of our senior people have comefrom other markets, worked at big multinational agencies,and bring to us best practices they have picked up.”A new lifeA significant segment of respondents would considerrelocating. Twenty-eight percent reported being morewilling to do so for a job opportunity than they were lastyear. And if salary concerns are an obstacle, survey resultsrevealed a shrinking disparity in median pay betweenthe most highly populated geographic sectionsof the US, with only a $10,500 difference between thelowest such region (the Southeast at $94,000) and thehighest (the Northwest at $104,500).“People have gone outside localmarkets to recruit talent and that isreflected in the stabilization of salaries,”says Bloom. “We see salariesof similar posts being in the sameballpark in Michigan versus, say,Washington, DC, which has one ofthe highest costs of living.”Benefits that help address worklifebalance have also risen in stature:83% said personal days are importantto them, while 70% said thesame of flex time, a five-point increasefrom the 2013 survey.All hiring decision-makers interviewedby PRWeek recognize how“I’M VERY IN TUNE WITH MAKINGSURE THERE IS NO GENDERDIFFERENCE BETWEEN SALARIES“– D’Arcy Rudnay, Comcastimportant work-life balance is to the compensationpackage. Currently, Ogilvy Public Relations approvesflexible and remote work arrangements on a case-by-casebasis. But Doryse Franco, HR director for Ogilvy’s NewYork office, says it has become such an important factorthat “we are looking toward making it a more formalperk within our benefits package.”“Work-life balance has been a buzzword for about adecade,” she adds. “It used to be about junior folks comingin and wanting to be able to work from other locationsor the Starbucks and managers having to deal withthat generational difference. Now we’re seeing the requestfor work-life balance, flexibility, and remote workfrom all levels, which is a real shift.”“As leadership has moved away from face-time cultureand recognized that people can be productive anywhere,companies have loosened the reins,” adds Franco.Further developmentAgencies and corporations alike are investing heavilyin employee-training and career-development programs,which our survey found is important to 72% ofPR pros. That number takes on more resonance as only45% of respondents say their employers provide adequatetraining for them to do their jobs.“We are coming out of this hold-on-tight-to-yourbudgetsperiod and one of the first things that wentwhen budgets were cut was the training,” says PMK-BNC’s Waits. “People feel more comfortable aboutmoving now, so when it comes to their current roles, theymust understand not only what that job entails now, butalso what it will look like in the next 12 to 18 months.”“As such,” she continues, “a lot of people are asking,‘What is the trajectory for this role?’ Training has ahuge role in answering that question.”Shift Communications has hired a person for its HRteam whose primary focus is training and development.Ciappenelli says training opportunities will be focusedon three buckets: core skills, customized professional development,and informal training.PAY BY POSITION Median PR salary by title* (000s)250200150$145$180.5$200$170.5$135 $14010050$102$70$92.5$78$65$50$57$44.6 $39.3 $44.30Chairman/ MD/ EVP SVP VP Senior Director Account Senior Manager Strategist Comms Senior Account Assistant CoordinatorPresident/ partner director of PR/ supervisor manager specialist account executive accountCEO of PR/ comms executive executivecomms*Respondents salary midpoint for comparable title across industries and regions34/ 2014

MEDIAN SALARY BY INDUSTRY SECTOR140120100$120,000 $123,500 $100,000$103,500$110,000 $117,500 $105,00080$92,50060$77,500 $80,250 $115,000$75,000$79,00040$56,500200Arts/ Financial Food Government/ Education Law/ Retail Sports Telecoms Travel and Trade Healthcare/ Tech/ Industrial/Entertainment/ services and Public Legal tourism/ association Pharma Internet ManufacturingMedia beverage services LeisureADDITIONAL BENEFITSWhich of thefollowing benefitsare included inyour compensationpackage?Medical plan...................................... 86%401K....................................................83%Dental plan.........................................79%Personal days.................................... 68%Performance-related bonus............. 48%Paid maternity/paternity leave.........47%Training, development programs.... 44%Tuition reimbursement...................... 35%Flex time..............................................31%Summer Fridays.................................29%Profit sharing.....................................20%Health-club membership....................17%Share options..................................... 16%Guaranteed bonus............................... 6%Company car........................................ 4%Childcare................................................3%None of the above................................3%Shift, for instance, offers training that helps staff transitionfrom an account executive role to a managerial one– particularly noteworthy given the Boston office sawthe biggest demand for talent at the mid-managementlevel. And in terms of informal training, Ciappenellisays a variety of subjects will be addressed. Most recently,Shift had a lunch-and-learn session around financialplanning and management for younger staff.D’Arcy Rudnay, SVP and CCO at Comcast, also hasa keen appreciation of the importance of training. Sheoversees a 30-person team of external and internal communicationsstaffers. Rudnay says salaries have risen inpart because communication jobs have become so complex,which is why training has become such an importantbenefits component.“Training has become critical to our work because ithas broadened in scope so much,” she explains. “Professionalswant to make sure they have those skills so theycan command a higher salary.”Gender inequalityFor all the advancements being made on other fronts,the wide gap between male and female salaries thatwas highlighted in this survey’s previous two versionsremains. Among those with five years’ experience orless, median salary is very comparable, with men earning$50,500 and women $48,000.However, among those with five-plus years’ experience,men’s base compensation outpaces that of women,$130,000 to $95,000. Overall, the survey reveals thatthe median salary for men in the industry is $125,000,compared to $84,000 for women.Fortunately, some hiring chiefs who are frustrated bythe gap are actively doing their part to close it.72%of respondentssaid training andcareer-developmentprograms are animportant factorin compensationAnnual updateYearsindicated oncharts correspondwith publish date,so the informationreflects the prioryear (for examplethe charts on thesepages, 2014figures indicate2013 data)March 2014/

SALARYSURVEY2014Youthful perspectiveHow do tomorrow’s PR leaders view their salary prospects? What advice would they give the C-suiteto better benefit from their skills? Thoughts on these topics and more were shared with PRWeek bytwo young pros who entered the workforce in 2010 – one each on the in-house and agency side:Katie BrandtTitle: Corporate communicationsconsultantCompany: NationwideLocation: Columbus, OHShane ArmanTitle: Sr. associate, fan experience,consumer and brand marketingAgency: Burson-MarstellerLocation: ChicagoMOST SURPRISING DEVELOPMENT OF PR CAREER THUS FARThe responsibility given to me right away. Otherjobs might ease you in, but I have partnered withsenior-level leaders from day one.LEVEL OF CONFIDENCE IN LONG-TERM SALARY PROSPECTS IN PRI am very confident. Good PR is vital to any organizationand there are ample opportunities for careergrowth whether you work at a firm or in-house.MOST IMPORTANT ELEMENT OF COMPENSATION BEYOND SALARYTraining and development programs. The world ofcommunications moves at an ever-increasing pace.We must keep up with trends and best practices.Take advantage of junior staffers’ different perspectives.Spend time talking to them about new ideas.ONE PIECE OF ADVICE FOR THE C-SUITEBeing able to so deeply apply my passion for sportsinto a PR career. I have always been a fan, but now Ihelp shape what all fans interact with.Based on what I’ve seen thus far, I am confidentabout my prospects, but salary is just one factor ofmany that will impact my future career decisions.The chance to work in the most high-profilesports environments and brush shoulders with topathletes. It is the best training I could ask for.Facilitate an environment where employees’ passionpoints align with the type of work they do.28%of respondentsreported beingmore willing torelocate for ajob opportunitythan last year“When I hire a senior director, whether a man orwoman, I make sure their salaries are comparable,” assertsRudnay. “I’m very in tune with making sure there is nogender difference between salaries.”She explains the discrepancy might have to do with afailure by organizations to readjust the salaries of longtimeemployees, many of whom may be women, to thecompensation levels of incoming talent.“It is a function of corporate America, unfortunately,”says Rudnay. “It is incumbent on the manager to go backand do the salary adjustment. It’s the right thing to do.”Ketchum’s Rafferty concurs, but believes “it will onlystart to balance out once we get more women in seniorposts.” As a member of Omnicom’s Leading Women’sNetwork, she has committed to encouraging women tostrive for leadership roles.“Men continue to push harder and negotiate morethan women, so I encourage women to get coaching, tonegotiate, and be more proactive,” Rafferty adds. “I amalso seeing a higher percentage of men going into digitaland social media, so I am speaking at universities andurging women to get into that side as well.”Listening to staffWhen respondents were asked to rate the PR industryin terms of how well it compensates employees, 35%described it as fair, 7% as poor – a reflection that a largesegment of the workforce feels they merit better pay,but also that their jobs have become more challenging.Fifty-five percent of respondents agreed to being undermore pressure to perform at work than 12 months ago.To a person, every hiring decision-maker who spoketo PRWeek emphasizes the importance of gauging employeesentiment and acting accordingly to keep theirown staffers satisfied when pondering various decisionsrelated to compensation. That strategy and approachcould prove to be an extremely smart and effective philosophyas the industry looks to the rest of the year andbeyond, explains Bloom.“If the economy takes a nice jump in 2014, it mightcatch a lot of people off guard who haven’t done theright planning and aren’t ready for the talent war thatcomes as a result,” she says. “Companies must pay attention.Those that do will be in the best position.” lThe PRWeek/Bloom, Gross & Associates 2014 Salary Surveywas conducted by Bovitz Inc. Email notification was sentto 50,581 PR professionals and a survey link was postedto PRWeek’s website and various social media channels. Atotal of 1,138 PR professionals completed the online surveybetween November 14 and December 12, 2013.Results are not weighted and are statistically tested atconfidence levels of 90% and 95%. This article offers asummary of findings. Additional charts and findings areavailable for purchase in the premium edition of the SalarySurvey, which will be available at 2014

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