YRC: Banks Agree to Pension Deferral

April 20, 2009. YRC today announced that its major banks, including J. P. Morgan, agreed to allow the company to use real estate as collateral and defer making payments to Teamster pension funds. However, YRC still needs to get the approval of the Teamster leadership, and of the various pension funds involved.

The announcement came in a form 8-K filed with the Securities and Exchange Commission.

YRC has some 40,000 Teamster employees in various Teamster pension funds. Approximately half of them are in the Central States Pension Fund, which covers the Midwest, the South, and the Carolinas.

Click here to read more.

Get Advice Join TDU Donate

Recent News

The TDU ISC—Frequently Asked Questions

What is the TDU International Steering Committee and how does it work? Who can be elected to the ISC? Get your answers here.

Nominations are Open for TDU Steering Committee

Nominations for the TDU Steering Committee for the coming year are open now through October 20. Here's everything you need to know about the Steering Committee election process which will be online this year.

View More News Posts