{"id":389973,"date":"2020-11-30T16:33:06","date_gmt":"2020-11-30T21:33:06","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=389973"},"modified":"2020-11-30T16:33:06","modified_gmt":"2020-11-30T21:33:06","slug":"stop-shops-investment-of-667-million-in-retirement-benefits-for-union-associates-approved-by-ufcw-locals","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/stop-shops-investment-of-667-million-in-retirement-benefits-for-union-associates-approved-by-ufcw-locals\/","title":{"rendered":"Stop &amp; Shop\u2019s Investment of $667 Million in Retirement Benefits for Union Associates Approved by UFCW Locals"},"content":{"rendered":"<h2>\nInvestment Will Improve Security of Future Pension Benefits for Union Associates &amp; Reduce Financial Risk for the Company<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p align=\"left\">QUINCY, Mass., Nov.  30, 2020  (GLOBE NEWSWIRE) &#8212; Today Stop &amp; Shop announced that its union locals have ratified an agreement to make a $667 million investment in pension benefits for union associates.<\/p>\n<p align=\"left\">\u201cWe\u2019re extremely pleased that this agreement has been ratified across the board. By making this significant investment, we are doing the right thing for our associates who are dedicated to serving our customers every day,\u201d said Gordon Reid, President, Stop &amp; Shop.<\/p>\n<p align=\"left\">As part of the agreement, the following actions will occur:<\/p>\n<ul>\n<li>Stop &amp; Shop will end its participation the United Food &amp; Commercial Workers International Union (UFCW) Industry Pension Fund, known as the \u201cNational Plan.\u201d<\/li>\n<li>Stop &amp; Shop union associates will participate in a new variable benefit plan established by Stop &amp; Shop, Kroger and the UFCW that is intended to sustainably provide future retirement benefits and reduce financial risk to the company.<\/li>\n<\/ul>\n<p align=\"left\">Stop &amp; Shop\u2019s agreement covers approximately 18,000 current Stop &amp; Shop associates who are members of UFCW Locals 1445, 1449, 328, 371 and 464A.<\/p>\n<p align=\"left\">\n        <strong>About Stop &amp; Shop<\/strong>\n      <\/p>\n<p align=\"left\">A neighborhood grocer for more than 100 years, today\u2019s Stop &amp; Shop is refreshed, reenergized and inspired, delivering convenient new solutions for customers. Committed to helping its communities enjoy better food and better lives, Stop &amp; Shop has a longstanding history of giving back to the neighborhoods it serves with a focus on fighting hunger and pediatric cancer research and care. The Stop &amp; Shop Supermarket Company LLC is an Ahold Delhaize USA Company and employs nearly 60,000 associates and operates over 400 stores throughout Massachusetts, Connecticut, Rhode Island, New York and New Jersey. To learn more about Stop &amp; Shop, visit\u00a0stopandshop.com.\u00a0<\/p>\n<p align=\"left\">Media Contact:<br \/>Jennifer Brogan<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=T3vq1vr9YZ6ofchGcFA3ce3-Fk6qv0_ZxhHqQ9rsRizGm5I88nTWIwYWTDC8w69XVALOti-Jr3a4882yT_ZbBWFMWH7YhurMNQYaEYQ_wt8SlotRNbAI4GQTU6zhdsqC\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Jennifer.brogan@stopandshop.com<\/a><\/p>\n<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5NDA0MiMzODQ4OTY4IzIxMjU4OTg=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/40681581-878e-4c75-be34-c94c7fa87586\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Investment Will Improve Security of Future Pension Benefits for Union Associates &amp; Reduce Financial Risk for the Company QUINCY, Mass., Nov. 30, 2020 (GLOBE NEWSWIRE) &#8212; Today Stop &amp; Shop announced that its union locals have ratified an agreement to make a $667 million investment in pension benefits for union associates. \u201cWe\u2019re extremely pleased that this agreement has been ratified across the board. By making this significant investment, we are doing the right thing for our associates who are dedicated to serving our customers every day,\u201d said Gordon Reid, President, Stop &amp; Shop. As part of the agreement, the following actions will occur: Stop &amp; Shop will end its participation the United Food &amp; Commercial Workers International Union (UFCW) Industry &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/stop-shops-investment-of-667-million-in-retirement-benefits-for-union-associates-approved-by-ufcw-locals\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Stop &amp; Shop\u2019s Investment of $667 Million in Retirement Benefits for Union Associates Approved by UFCW Locals&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-389973","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Stop &amp; Shop\u2019s Investment of $667 Million in Retirement Benefits for Union Associates Approved by UFCW Locals - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/stop-shops-investment-of-667-million-in-retirement-benefits-for-union-associates-approved-by-ufcw-locals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stop &amp; Shop\u2019s Investment of $667 Million in Retirement Benefits for Union Associates Approved by UFCW Locals - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Investment Will Improve Security of Future Pension Benefits for Union Associates &amp; Reduce Financial Risk for the Company QUINCY, Mass., Nov. 30, 2020 (GLOBE NEWSWIRE) &#8212; Today Stop &amp; Shop announced that its union locals have ratified an agreement to make a $667 million investment in pension benefits for union associates. \u201cWe\u2019re extremely pleased that this agreement has been ratified across the board. By making this significant investment, we are doing the right thing for our associates who are dedicated to serving our customers every day,\u201d said Gordon Reid, President, Stop &amp; Shop. As part of the agreement, the following actions will occur: Stop &amp; Shop will end its participation the United Food &amp; Commercial Workers International Union (UFCW) Industry &hellip; Continue reading &quot;Stop &amp; Shop\u2019s Investment of $667 Million in Retirement Benefits for Union Associates Approved by UFCW Locals&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/stop-shops-investment-of-667-million-in-retirement-benefits-for-union-associates-approved-by-ufcw-locals\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-30T21:33:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5NDA0MiMzODQ4OTY4IzIxMjU4OTg=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/stop-shops-investment-of-667-million-in-retirement-benefits-for-union-associates-approved-by-ufcw-locals\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/stop-shops-investment-of-667-million-in-retirement-benefits-for-union-associates-approved-by-ufcw-locals\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Stop &amp; 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By making this significant investment, we are doing the right thing for our associates who are dedicated to serving our customers every day,\u201d said Gordon Reid, President, Stop &amp; Shop. As part of the agreement, the following actions will occur: Stop &amp; Shop will end its participation the United Food &amp; Commercial Workers International Union (UFCW) Industry &hellip; Continue reading \"Stop &amp; Shop\u2019s Investment of $667 Million in Retirement Benefits for Union Associates Approved by UFCW Locals\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/stop-shops-investment-of-667-million-in-retirement-benefits-for-union-associates-approved-by-ufcw-locals\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-30T21:33:06+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5NDA0MiMzODQ4OTY4IzIxMjU4OTg=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/stop-shops-investment-of-667-million-in-retirement-benefits-for-union-associates-approved-by-ufcw-locals\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/stop-shops-investment-of-667-million-in-retirement-benefits-for-union-associates-approved-by-ufcw-locals\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Stop &amp; 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