UFCW 400 Says Kroger Pension Plan Should Be Model
Wednesday, December 21, 2011
(Metropolitan Washington Council, AFL-CIO)A landmark agreement between Kroger supermarkets and 14 UFCW locals -- including
Local 400 -- is set to improve and secure pension funds for more than 170,000
retired and active UFCW members. “This agreement should serve as a model for
upcoming bargaining with Giant and Safeway,” Local 400 President Tom McNutt
said this week. Local 400 members working at Kroger in the Roanoke, VA area have
unanimously ratified the agreement, merging four pension plans, protecting
current benefits of vested employees, enhancing benefits for new hires, ensuring
full funding by Kroger, and providing for 10 years of fiscal stability. “At a
time when many pension funds are severely underfunded, and when the very
existence of defined benefit retirement plans is under threat, the UFCW and
Kroger have shown how to restore these plans to solvency while fully protecting
the retirement security of all beneficiaries,” McNutt said. To read more,
visit Local
400’s website. - photo courtesy of Local
400