Kroger Co. will see a $410 million charge on its fourth quarter balance sheet associated with its withdrawal from the Central States Pension Fund, the company announced Dec. 13.
The Cincinnati-based grocery chain and the International Brotherhood of Teamsters ratified a new labor agreement that allowed for the withdrawal from the Central States, Southeast and Southwest Areas Pension Fund. Kroger’s withdrawal from Central States was effective Dec. 10. Its fiscal fourth quarter started Nov. 5 and runs through Feb. 3.
Kroger and the Teamsters established a new pension fund, the International Brotherhood of Teamsters Consolidated Pension Fund, that will cover ...
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