Kruger asks for more time to repay underfunded pension plan
April 18th, 2012 | Posted in Financial News | No comments ยป
The workers at Corner Brook Pulp and Paper are meeting again today with management to discuss their pension plan.
At issue is the fact their pension plan is tens of millions of dollars short.
Their employer, Kruger, is asking for 10 years to repay that shortfall, rather than 5, in order to help them keep the mill profitable.
The workers are being asked to vote on this proposal. To pass, Kruger needs support from two-thirds of the current workers and retirees.
Read more:
Kruger makes pension pitch to mill workers, retirees (CBC)
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