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Star Gas Partners, L.P. Announces That Teamsters Ratify New NETTI Agreement
2015-09-26 21:02:34| Oil & Gas - Topix.net
25, 2015 -- Star Gas Partners, L.P. , a home energy distributor and services provider, today announced that the Teamsters have ratified an agreement among certain Star subsidiaries and the New England Teamsters and Trucking Industry Pension Fund , a multiemployer pension plan in which such Star subsidiaries participate, providing for Star's participating subsidiaries to withdraw from the NETTI Fund's original employer pool and enter the NETTI Fund's new employer pool. The withdrawal from the original employer pool triggered an undiscounted withdrawal liability of $48.0 million that is to be paid in equal monthly installments over 30 years, or $1.6 million per year.
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Category:Energy and Environment