By Friday, 42,000 salaried General Motors retirees will have made a critical financial decision that will dictate whether they have a secure or insecure retirement. GM is requiring these loyal old-timers to either exchange their lifetime monthly pension benefits for a onetime lump-sum payment or continue to receive equivalent lifetime monthly payments paid by Prudential instead of GM.
Pension and Benefits
TDU in Action—Pension and Benefits
“TDU will support any fight launched by the International Union to defend our benefits. And we will continue to inform members so we can put pressure on the employers and on Hoffa, when necessary, to save and strengthen our benefits.”
K.W. Phillips, Roadway
Local 667, Memphis, Tenn.
Pension Workshops: Our Rights, the Benefit Cuts and How We Can Beat Them
TDU brings together concerned Teamsters and pension experts to share information and build a movement to restore our benefits and strengthen them for the future.
Pension and Benefits Newswire
July 11, 2012: Now that the controversial Affordable Care Act has been upheld by the Supreme Court, many Teamster members are asking how the law will affect their benefits.
June 28, 2012: Corporations have targeted workers' pensions for elimination. Teamsters, teachers, fire fighters, Verizon workers and more are in this fight together. Now add rail workers to that list, including 65,000 Teamsters.
June 28, 2012: The Central States Pension Fund's 2011 Financial and Analytical Reports show that the fund was down to $17.7 billion at the end of 2011.
June 8, 2012: The Central States Pension Fund’s 2011 Financial and Analytical Reports show that the fund was down to $17.7 billion at the end of 2011. The reports – which were received by Teamsters for a Democratic Union this week – also describe in more detail decisions regarding YRC Teamsters, and a new rule on withdrawal liability.
MasTec, Inc. (NYSE: MTZ) today announced that its wholly owned subsidiary, Precision Pipeline, LLC, along with other members of the Pipe Line Contractors Association ( "PLCA"), have fully withdrawn from the Central States Southeast and Southwest Areas Pension Fund multi-employer pension plan (the "Plan"), effective November 15, 2011. In connection with the withdrawal, MasTec will record a one-time expense of $6.4 million in the fourth quarter of 2011 based on an estimate provided by the plan.
May 22, 2012: Teamsters in the IBT-UPS plan get the lowest pensions of any UPSers in the country. The next contract is our chance to win the higher pensions we deserve.
May 22, 2012: Teamsters in the Central Region, the South and the Carolinas are uniting to make UPS deliver higher pensions.
June 22, 2012: UPS always advised drivers with the safety tip to "keep their eyes on the big picture." I've learned that's really important when it comes to our pension and retirement.