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.


Be the first to comment

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

Recent News

TDU Black Leadership Conference

African-American Teamsters will hold TDU’s first national Black Leadership Conference, July 13-14 in New York City.

YRCW Local-by-Local Vote Count Results

Get the local-by-local vote on the YRCW contract and every supplement.  Check out the vote in your local and others. See where the Yes and No votes prevailed.

View More News Posts