Dreyer's Grand Ice Cream Inc., Oakland, Calif., and Teamsters representatives negotiated to offer a prepackaged Taft-Hartley 401(k) for the company's 200 Teamsters union employees, according to Rome Aloise, secretary, treasurer and principal officer of Local No. 853 in San Leandro. The jointly trusteed plan will begin for the Dreyer's employees later this year. Transamerica Life Insurance will manage the five investment options for the 401(k) and is the record keeper. Mr. Aloise estimates employee contributions will be $1 million for the first year. Dreyer's makes no contributions to the plan.
Dreyer's employees will retain their defined benefit plan, provided through the Teamsters, Western Conference.
The 401(k) plan is offered nationally to employers of Teamsters members and represented by Van Kasper & Co. and administered by Northwest Administrators.
