Coca-Cola Members to Receive Retroactive 401(k) Contributions
Coca-Cola Refreshments members will receive their contractually guaranteed 401(k) matching benefits retroactive to April 1 after Teamsters Local 727 representatives won a grievance earlier this month.
The company violated section 23.3(b) of the contract when it failed to provide matching 401(k) benefits contributions. The contract states, “Effective within 90 days of ratification … the Employer shall provide a Company-sponsored 401(k) Plan that offers employees a 50% match for every dollar the employee contributes to his/her 401(k) Plan, up to 10% of the employee’s salary.”
“This is something our members fought long and hard for, and it’s something they deserve,” said John Coli Jr., President of Local 727. “They do not, however, deserve to be mistreated by management with such an egregious contract violation.”
Local 727 representatives also are still fighting against Coca-Cola Refreshments for charging employees higher insurance premiums than those explicitly set forth in the new collective bargaining agreement. The union has filed the case for arbitration and is demanding that the company pay for any difference in employee premiums above the contractually agreed upon rates.
Teamsters Local 727 represents nearly 10,000 hardworking men and women throughout the Greater Chicago area, including more than 300 Coca-Cola Refreshments workers in Niles and Alsip, Ill.
Nothing in this article should be read as the union’s waiver of any legal argument, position or additional grievance. The union does not forfeit its right to make any and all supplemental arguments.
Category: BEVERAGE, Coca-Cola, Union News
