Business Services Industry
Rite Aid Negotiates to Resolve Legal Claims Surrounding Pension Plan.
Knight Ridder/Tribune Business News, May, 2002
By Tom Dochat, The Patriot-News, Harrisburg, Pa. Knight Ridder/Tribune Business News
May 9--Rite Aid Corp. says it has reached a preliminary agreement to resolve claims stemming from administration of company pension plans, including a 401(k) plan that allowed employees to invest in Rite Aid stock.
East Pennsboro Twp.-based Rite Aid said the agreement would maintain the current level of plan benefits and cost the company about $3.3 million, after insurance contributions.
Information about the legal proceedings involving Rite Aid's benefit plans is contained in the company's annual report filed this week with the U.S. Securities and Exchange Commission.
The U.S. Department of Labor is investigating Rite Aid's benefit plans,...
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