ANNOUNCEMENT: CONTRIBUTION RATES AND ADMINISTRATIVE FEE RATES WILL BE REDUCED STARTING JULY 1, 2011

The Co-op Retirement Plan Committee has voted to reduce the total contribution rates of the Co-op Retirement Plan by one percentage point effective July 1, 2011.  The total contribution rate is the combined amount contributed by both employees and employers.

Click here to see the new Cost Grid for 2011.

In addition, the Retirement Committee approved a reduction in the Administrative Fee rate (for Plan expenses not paid from the Trust Fund) from 0.60% of covered payroll to 0.55% of covered payroll, effective July 1, 2011.

Click here to see the notice that was sent to General Managers /CEO’s on April 1, 2011 announcing these two rate reductions.