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Economy
9:06 pm
Thu November 7, 2013

Teamsters Workers Approve New Wegmans Contract

Wegmans says the Teamsters workers who staff  its trucks and warehouse have voted in favor of the latest contract proposal.

The leadership of the company and Teamsters Local 118 had agreed to a contract proposal in mid-October, but the rank and file then rejected it.

The contract, which has now been approved, includes an immediate $1,000 lump sum payment for full time workers and an 18 percent pay increase over the life of the six year contract.

The most contentious issue had to do with the retirement plan. Wegmans is moving the union workers away from the Teamsters pension fund, which the company says is underfunded, and transitioning them to the Wegmans retirement plan.