April 19, 2016 / 4:39 PM / 3 years ago

Teamsters recommends members approve new Costco contract

Costco shopping carts await customers outside a Costco Warehouse in Carlsbad, California February 28, 2012. REUTERS/ Mike Blake

(Reuters) - Teamsters unions representing 16,000 workers of Costco Wholesale Corp (COST.O) recommended their members approve a new contract offer from the retailer, a month after urging they reject an earlier proposal due to a long-running disagreement over pension plans.

The new agreement allows Costco employees on a 401(k) pension plan on the East Coast to join the defined benefit pension plan provided to 12,500 Teamsters members in California, the International Brotherhood of Teamsters said on Tuesday.

“Language changes and economic changes were made that enabled the committee to reverse its position from a rejection to a positive recommendation of the latest offer,” the union said.

Reporting by Ramkumar Iyer in Bengaluru; Editing by Maju Samuel

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