Central Pennsylvania Freezes YRC Teamsters’ Pensions

May 18, 2009: The Central Pennsylvania Teamsters Pension Fund has frozen new pension accruals for YRCW participants from June 1 until the end of 2009.

This means no new benefits will accrue to members. This change does not affect already-earned pension credits, nor does it affect eligibility for benefits.

It is not known at this point if other Teamster pension funds will go this route. There is a consortium of Teamster pension funds, led by the Central States Fund, which is looking at YRC’s proposed deal to post real estate for collateral in lieu of pension contributions for the rest of 2009.

The Central Pennsylvania Fund is part of that group, but each fund is free to act independently.

If YRC later pays the contributions, then the Central Pa accruals will be restored retroactively.

Click here to see the May 14 letter announcing the pension freeze.


Be the first to comment

Please check your e-mail for a link to activate your account.
Get Advice Join TDU Donate

Recent News

Why a No Vote Does Not Mean a UPS Strike

The International Union is trying to scare UPSers into accepting contract givebacks by sending out a new postcard that threatens members with the possibility a strike at UPS. A No Vote does not mean a strike at UPS. Here’s why.

UPS & UPS Freight Deals Increase Subcontracting

One of the biggest lies in Hoffa’s Vote Yes campaign is that the UPS and UPSF contracts represent a victory over subcontracting. That’s a joke.

View More News Posts