{"id":403052,"date":"2020-12-18T16:03:18","date_gmt":"2020-12-18T21:03:18","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=403052"},"modified":"2020-12-18T16:03:18","modified_gmt":"2020-12-18T21:03:18","slug":"stop-shops-investment-of-229-million-in-retirement-benefits-for-union-associates-ratified-by-ufcw-local-1500","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/stop-shops-investment-of-229-million-in-retirement-benefits-for-union-associates-ratified-by-ufcw-local-1500\/","title":{"rendered":"Stop &amp; Shop\u2019s Investment of $229 Million in Retirement Benefits for Union Associates Ratified by UFCW Local 1500"},"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>QUINCY, Mass., Dec.  18, 2020  (GLOBE NEWSWIRE) &#8212; Today Stop &amp; Shop announced that UFCW Local 1500 has ratified an agreement for the company to make a $229 million investment in pension benefits for its members.<\/p>\n<p>\u201cWe\u2019re pleased this agreement has been ratified as it will improve the security of future retirement benefits for our union associates, while reducing financial risk going forward. This represents a significant investment in our associates who are dedicated to serving our communities every day,\u201d said Gordon Reid, President, Stop &amp; Shop.<\/p>\n<p>As part of the agreement, the following actions will occur:<\/p>\n<ul>\n<li>Stop &amp; Shop will end its participation in the UFCW Local 1500 Pension Fund.<\/li>\n<li>Stop &amp; Shop union associates will participate in the\u00a0Local 1500 Annuity plan, which is intended to sustainably provide future retirement benefits and reduce financial risk to the company.<\/li>\n<\/ul>\n<p>The agreement covers approximately 8,000 current Stop &amp; Shop associates who are members of UFCW Local 1500.<\/p>\n<p>\n        <strong>About Stop &amp; Shop<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n<p>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 58,000 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>Contact: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=X4ishv4vRK0-96bIg8JkCdjVlhb8BwsKopbuiKf-LR_Pr3QMonuzBs5k4sHjMQ-75bY2xjy11WFckCJZQXKrvJfaQ4ha8qJb5QU59GBlvbjmLJXqdj8N_gXZfMk5PDGU\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Jennifer.Brogan@stopandshop.com<\/a><\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExNTAyNyMzODg5MjMyIzIxMjU4OTg=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/cd69fd5c-839c-47bb-98a7-86f3e3082cff\" 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., Dec. 18, 2020 (GLOBE NEWSWIRE) &#8212; Today Stop &amp; Shop announced that UFCW Local 1500 has ratified an agreement for the company to make a $229 million investment in pension benefits for its members. \u201cWe\u2019re pleased this agreement has been ratified as it will improve the security of future retirement benefits for our union associates, while reducing financial risk going forward. This represents a significant investment in our associates who are dedicated to serving our communities 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 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/stop-shops-investment-of-229-million-in-retirement-benefits-for-union-associates-ratified-by-ufcw-local-1500\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Stop &amp; Shop\u2019s Investment of $229 Million in Retirement Benefits for Union Associates Ratified by UFCW Local 1500&#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-403052","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Stop &amp; Shop\u2019s Investment of $229 Million in Retirement Benefits for Union Associates Ratified by UFCW Local 1500 - 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-229-million-in-retirement-benefits-for-union-associates-ratified-by-ufcw-local-1500\/\" \/>\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 $229 Million in Retirement Benefits for Union Associates Ratified by UFCW Local 1500 - 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., Dec. 18, 2020 (GLOBE NEWSWIRE) &#8212; Today Stop &amp; Shop announced that UFCW Local 1500 has ratified an agreement for the company to make a $229 million investment in pension benefits for its members. \u201cWe\u2019re pleased this agreement has been ratified as it will improve the security of future retirement benefits for our union associates, while reducing financial risk going forward. This represents a significant investment in our associates who are dedicated to serving our communities 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 &hellip; Continue reading &quot;Stop &amp; Shop\u2019s Investment of $229 Million in Retirement Benefits for Union Associates Ratified by UFCW Local 1500&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/stop-shops-investment-of-229-million-in-retirement-benefits-for-union-associates-ratified-by-ufcw-local-1500\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-18T21:03:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExNTAyNyMzODg5MjMyIzIxMjU4OTg=\" \/>\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-229-million-in-retirement-benefits-for-union-associates-ratified-by-ufcw-local-1500\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/stop-shops-investment-of-229-million-in-retirement-benefits-for-union-associates-ratified-by-ufcw-local-1500\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Stop &amp; 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This represents a significant investment in our associates who are dedicated to serving our communities every day,\u201d said Gordon Reid, President, Stop &amp; Shop. 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