Central States Pension Wins Suit Over Kroger’s $467 Million Exit

A Teamsters pension fund defeated a lawsuit by current and former Kroger Co. employees who objected to how the fund handled the grocery giant’s $467 million exit, according to a decision by the Northern District of Illinois.

The trustees running the Central States, Southeast & Southwest Areas Pension Fund didn’t abuse their discretion or commit fiduciary breach when they rejected Kroger’s initial proposals to break off from the fund and establish separate pension plans for its workers, Judge Edmond E. Chang held Sunday. Rather than reject Kroger’s proposals “out-of-hand,” the trustees “fully discussed” the proposals and heard input from various ...