By Mark Hamstra
Source: Supermarket News
Both Save Mart and Whole Foods Market have agreed to settle multimillion dollar, class action lawsuits concerning their retirement benefit plans in recent days.
Save Mart agreed to pay about $20.5 million to a group of former non-union employees who had claimed that the Modesto, Calif.-based retailer terminated their retirement health plan after promising it would remain in place for life.
The suit was originally filed in 2022 in the U.S. District Court in Northern California after non-union retirees alleged that the company misrepresented that their retirement health plan would be in place for the rest of their lives and that the benefits would be at least equal to those provided to union employees. According to the suit, Save Mart cancelled the plan after the retailer was acquired by Kingswood Capital Management in 2022. Save Mart, which operates about 194 stores in Northern California and Nevada under the Save Mart, FoodMaxx, and Lucky banners, previously had been owned by the Piccinini family.
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