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Kroger, UFCW agree to pension plan fix

The United Food and Commercial Workers local unions and Kroger Company have agreed to improve and secure pension funds for more than 170,000 retired and active Kroger workers.

By Paula Aven Gladych | Updated on December 19, 2011

The United Food and Commercial Workers local unions and Kroger Company have agreed to improve and secure pension funds for more than 170,000 retired and active Kroger workers. The agreement will merge four pension plans into one, which will include a 10-year review and will affect Kroger workers who are members of 14 UFCW unions in 15 states, primarily in the Midwest and South.

The combined plan will protect the current benefits of vested employees and enhance the benefits of new hires. It also will include automatic benefit increases as pay increases and will provide a more secure and stable pension fund in an unstable financial environment. As part of the deal, Kroger agreed to pay off all the unfunded liability in the markets covered by the 14 local unions.

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