September 29, 2007: United Parcel Service Inc. and the Teamsters union are closing in on a labor agreement that would restructure and possibly lower the company's pension obligations.
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
August 31, 2007: Chief negotiators James Hoffa and Ken Hall announced today they will let UPS break out of the Central States Pension Fund in an early deal to be inked by October.
Hoffa Announces He Will Cut Central States Deal
August 23, 2007: The assets of the Central States Pension Fund are on the rise and our union will lose long-term power in dealing with management if we let UPS split from the fund.
August 23, 2007: “It is the Teamsters’ pension—and particularly the multi-employer plan—that gives the union much of its draw and power, industry observers say.” —Traffic World Magaz
August 23, 2007: If UPS or ABF or any other corporation says they will do better than a $3,000 pension at 30 years, keep in mind that with the increased funding, that’s not hard to do.
August 23, 2007: Sometimes, your vote is your voice. But on the issue of splitting UPS from the Central States Pension Fund, you won’t get a vote, unless you work at UPS.
August 20, 2007: Industry experts say that pension assets are up, but our union’s power will be down if UPS is allowed to break out of Central States.
August 13, 2007: The assets of the Central States Pension Fund have jumped $700 million in the first six months of this year, reaching $21.4 billion, and could reach $22 billion by the end of 2007.