Wegmans Food Markets here said it has reached a tentative agreement with Teamsters Local 118, also based here, on a new contract covering 900 warehouse workers, drivers and others at the company’s headquarters.
The two sides declined to release details of the agreement, which was reached after months of talks. The Teamsters on Sept. 30 had rejected a previous offer from the company and authorized a strike.
According to local reports, Wegmans has been seeking to shift workers from the Teamsters statewide retirement plan to the company-run fund, while the Teamsters themselves were seeking to retain their union fund.
The Wegmans plan is a defined-contribution plan, in which each retiree would have available to them only the funds that have been paid into their accounts. The Teamsters fund, by contrast, would pay a set amount on a regular basis throughout the rest of the retiree’s life.
It was not clear Monday how the disagreement was resolved. The tentative agreement was set to go before the union members for ratification.
Wegmans declined to comment on the talks, and a Teamsters spokesperson could not be reached.
The two sides declined to release details of the agreement, which was reached after months of talks. The Teamsters on Sept. 30 had rejected a previous offer from the company and authorized a strike.
According to local reports, Wegmans has been seeking to shift workers from the Teamsters statewide retirement plan to the company-run fund, while the Teamsters themselves were seeking to retain their union fund.
The Wegmans plan is a defined-contribution plan, in which each retiree would have available to them only the funds that have been paid into their accounts. The Teamsters fund, by contrast, would pay a set amount on a regular basis throughout the rest of the retiree’s life.
It was not clear Monday how the disagreement was resolved. The tentative agreement was set to go before the union members for ratification.
Wegmans declined to comment on the talks, and a Teamsters spokesperson could not be reached.
