Visit to the town hall on Monday
You are cordially invited to our educational town hall – Monday at 4 p.m. Together with our pension experts, we record your questions live. Just pick up your phone when we call at 4:00 p.m. on Monday.
If for some reason you don’t get a call, you can dial into town hall. On Monday, September 27th at 4:00 p.m., simply dial 1-888-231-5462 and enter the meeting ID 6308. I hope we can talk to you then.
It’s your retirement
We all hope to retire after a lifetime of work, with enough income to live in dignity and independence. Solid retirement provision helps. It has many sources: personal savings, social security, and retirement / pensions and investments. Your old age pension from working in the grocery store is one of those sources.
While some of you are about to retire after decades of work, others may only have started in the grocery store in the past few years. Regardless of your situation, one of the most important ways to earn an income in retirement is your retirement. Your employer will start paying into your pension when you are hired and you will usually be transferred to the pension insurance scheme after only 5 years working in the branches.
1 – A solid plan, a better future – In the summer of 2021, our pension made a very positive announcement – after many years of efforts, we were able to take the last step to secure pension financing. This includes a new plan that: More resilient to the ups and downs of the stock market; creates a stabilization fund for years when investment returns fall below 2%; and links your employer’s pension contributions to your wages rather than a fixed amount, so your pension value increases as you earn more.
2 – Solution enables focus shift to higher wages – Every three years our union members have the right to negotiate with employers about terms of employment – wages, benefits, working conditions and more. These include health and retirement benefits. Having successfully dealt with pension and health benefits over the past decade, we hope that in early 2022, during contract negotiations, we can take the time and energy with employer representatives to focus on members’ other top priorities: First and foremost are higher wages. We also look forward to trying to improve the contract for training, staff and additional opportunities to improve safety and respect in the workplace.
You need to know details about your pension
How much someone gets in retirement depends on many things. If you have any questions about your specific retirement benefits, the timing of your vested benefits, or any other matter please contact our grocer retirement plan manager, Zenith, at 206-282-4500 or 800-225-7620, press option 2, then press 3.