A&P, pharmacists talks stall on pension

[Omaha Steve]

http://www.newsday.com/services/newspaper/printedition/friday/business/ny-bzwald305706794may30,0,3053520.story

BY KEIKO MORRIS | [e-mail]
May 30, 2008

Contract negotiations between The Great Atlantic & Pacific Tea Co. and the union representing pharmacists at area Waldbaum's stores have stalled after the company declined to budge from its stance on employee retirement plans and refused to discuss other issues, the union said yesterday.

The company, also known as A&P and which owns Waldbaum's, wants to withdraw the pharmacists from the union's defined benefit pension fund and switch them to the company's 401(k) plan or a company-sponsored defined benefit pension plan, said Joseph Fontano, a spokesman for Local 338 of the Retail, Wholesale and Department Store Union/United Food and Commercial Workers Union. The company contributes to Local 338's pension plan, which is a fund administered by the union and has a board of trustees.

Until that issue is resolved, the company won't negotiate any other aspects of the contract, he said.

"We have a good pension plan and their request isn't in the best interest of the pharmacists," Fontano said, adding that the company plans have no guarantees. "If the company is sponsoring the plan it could be here today gone tomorrow," he said.

The company declined to comment, saying it does not discuss ongoing negotiations, said spokeswoman Lauren La Bruno.

FULL story at link.