Ahold Delhaize
Giant Food Reaches Settlement Agreement on FELRA and MAP Pension Liabilities; No Impact to Previously Issued 2020 Financial Outlook
Giant Food Reaches Settlement Agreement on FELRA and MAP Pension Liabilities; No Impact to Previously Issued 2020 Financial Outlook
Zaandam, the Netherlands, January 1, 2021 – Ahold Delhaize today announces the conclusion of negotiations by its U.S. subsidiary, Giant Food, regarding certain of its multi-employer pension plans.
Giant Food, UFCW Locals 27 and 400 (collectively the “Union Locals”) and the Pension Benefit Guaranty Corporation (“PBGC”) have reached an agreement on Giant Food’s funding obligations with respect to two multi-employer pension plans: the Food Employers Labor Relations Association and United Food and Commercial Workers Pension Fund (“FELRA”) and the Mid-Atlantic UFCW and Participating Employers Pension Fund (“MAP”). As a result of this agreement, the PBGC has approved the combining of MAP i
(2)
Zaandam, the Netherlands, January 1, 2021 - Ahold Delhaize today announces the conclusion of negotiations by its U.S. subsidiary, Giant Food, regarding certain of its multi-employer pension plans.
Giant Food, UFCW Locals 27 and 400 (collectively the Union Locals ) and the Pension Benefit Guaranty Corporation ( PBGC ) have reached an agreement on Giant Food s funding obligations with respect to two multi-employer pension plans: the Food Employers Labor Relations Association and United Food and Commercial Workers Pension Fund ( FELRA ) and the Mid-Atlantic UFCW and Participating Employers Pension Fund ( MAP ). As a result of this agreement, the PBGC has approved the combining of MAP into FELRA (the Combined Plan ) and has agreed to provide financial assistance to the Combined Plan following its insolvency, which is currently projected to occur in 2022. The agreement is intended to resolve all of Giant Food s existing liabilities with respect to the FELRA and MAP Plans and impr
Share:
Zaandam, the Netherlands, January 1, 2021 – Ahold Delhaize today announces the conclusion of negotiations by its U.S. subsidiary, Giant Food, regarding certain of its multi-employer pension plans.
Giant Food, UFCW Locals 27 and 400 (collectively the Union Locals ) and the Pension Benefit Guaranty Corporation ( PBGC ) have reached an agreement on Giant Food s funding obligations with respect to two multi-employer pension plans: the Food Employers Labor Relations Association and United Food and Commercial Workers Pension Fund ( FELRA ) and the Mid-Atlantic UFCW and Participating Employers Pension Fund ( MAP ). As a result of this agreement, the PBGC has approved the combining of MAP into FELRA (the Combined Plan ) and has agreed to provide financial assistance to the Combined Plan following its insolvency, which is currently projected to occur in 2022. The agreement is intended to resolve all of Giant Food s existing liabilities with respect to the FELRA and MAP Plans an
i m erin burnett. outfront tonight, dive bombing the carcass. it s just an image that makes me think of the field growing up, dead deer, entrails everywhere, buzzards coming in with their ugly little red bobbles. that s what it looks like for facebook. at least three lawsuits filed in connection to the facebook ipo. plus investigations by the securities and exchange commission and the massachusetts secretary of the commonwealth. of course, public embarrassment. headlines like these on the front pages. the best one today went to cnn money. bumpy start just got a little worse. inside facebook s fumble was from the wall street journal and the washington post called it a debacle. here s where the stock closed today, at $32 a share. down $10 from where it opened on ipo morning at $42. that means it s lost a quarter of its value since it opened. that is pretty stunning. and you say how? how could one of the most anticipated offerings in american history, and the biggest in te
captions by vitac www.vitac.com i m erin burnett. vultures dive bombing the carcass. just an image. makes me think of the field growing up, dead deer, entrails everywhere, that s what it looks like for facebook. at least three lawsuits filed in connection to the ipo. and plus investigations by the securities and exchange commission and the massachusetts secretary of the commonwealth and of course headlines like these on the front pages. the best went to cnn money. oh, zuck. inside facebook s fumble and the washington post called it a debacle. here s where the stock closed today, at $32 a share. down $10 from where it opened on ipo morning at $42. that means it s lost a quarter of the value since it opened. that s pretty stunning. you say how? how could one of the most anticipated offerings in american history, when i say anticipated in history and the biggest in terms of size in this country s history, one that was supposed to invigorate and make the stock market a pl