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UFCW Local 21 and the Saga of the Variable Annuity Plan
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If your union or employer’s defined benefit plan was in critical and declining condition and facing insolvency, would you consider a hybrid retirement solution to fix it? That’s exactly how the UFCW Local 21 turned their red-zone plan back to green. UFCW Local 21 president, Faye Guenther, shares the bold steps taken by her UFCW family when they switched from their legacy plan to a variable annuity pension plan (VAPP).
Some highlights from UFCW Local 21 and the Saga of the Variable Annuity Plan include:
04:17 – A Red-zone Plan in a Death Spiral
08:14 – The First Big Challenge
10:36 – Kroger and the VAPP
16:44 – The Employer Reactions
19:48 – The Variable Annuity Plan and the Path Forward
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