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CAMPBELL ASKS COURT TO CLARIFY RETIREE PLAN

 CAMPBELL ASKS COURT TO CLARIFY RETIREE PLAN
 CAMDEN, N.J., Sept. 1 /PRNewswire/ -- Campbell Soup Co. (NYSE: CPB)


today asked a federal court in Omaha, Neb., to resolve an issue between the company and a small number of its local union representatives, which arose after Campbell increased pensions and simultaneously modified the way its Retiree Medical Plan coordinated with Medicare for retirees over 65.
 Campbell filed a petition in the U.S. District Court in Omaha, where the company has a major plant, seeking a declaratory judgment that its January 1992 changes in its retiree benefit plans did not violate federal law. Campbell said that while none of its employees objected to the pension increase, a small number of union representatives had threatened to sue the company over the retiree medical plan modification.
 "Even in an era where medical costs are skyrocketing, and even after the January 1992 changes, our retiree medical plan continues to provide a very attractive package of benefits," said Stephen R. Armstrong, vice president-Human Resources. "For example, medical coverage is provided at absolutely no cost to retirees, there is only a $50-deductible for expenses covered by Major Medical, and it costs a retiree only $3.40 a month for dependent coverage."
 "We are making this Medicare coordination change since our medical costs continue to rise faster than any other Campbell operating cost. The high rate of medical care inflation is not new -- it started back in the early 1980s -- and affects all our medical plans. Over the past three years, we have modified the plans covering active employees and their families so that employees share in the increased costs -- and we believe it is necessary to ask our retirees to share a portion of these increased costs as well."
 Campbell also noted that the recent retiree medical plan modification was in keeping with common practice throughout industry and brings Campbell in line with most other major companies.
 /delval/
 -0- 9/1/92
 /CONTACT: James H. Moran of Campbell Soup, 609-342-6426/
 (CPB) CO: Campbell Soup Company ST: New Jersey IN: FOD SU:


MJ -- PH014 -- 5366 09/01/92 10:58 EDT
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Publication:PR Newswire
Date:Sep 1, 1992
Words:354
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