The Central States Pension Fund Financial Report (4th Quarter 2016) shows that the fund ended 2016 with $15.3 billion in assets, down from $16.1 billion a year earlier. Due to healthy returns on bonds and in the stock market, this was not as bad as 2015 but still shows the fund headed steadily downward.
What do you do when the YRC national contract wages are so low that you cannot find qualified workers? You raise the starting dock wage, but only at a select group of terminals! That’s the deal signed by Hoffa’s new Freight Director, Ernie Soehl.
The New York State Teamsters Conference Pension and Retirement Fund has withdrawn the MPRA application for benefit cuts as a result of concerns raised by U.S. Treasury.
Seventeen months after 87% of members Voted No to reject Hoffa’s concessions, Teamster carhaulers have voted by 86% to ratify a new contract. By sticking together, members defeated wage cuts and language changes that would have gutted job their security.