The Teamsters union recommended its members reject a contract offer from Costco due to a long-running disagreement over the retailer’s pension plan.
The main sticking point is Costco’s decision not to bend to a union request that 3,500 members on the East Coast on a 401(k) pension plan be allowed to join the defined benefit pension plan provided to 12,500 members in California, the International Brotherhood of Teamsters said. The Teamsters represents 16,000 Costco workers.
