Will YRC Re-Enter Pension Plans?
July 1, 2010: Will YRC Teamsters start earning pension credits again when the concession agreement expires?
When the concession agreement with YRC expires on December 31, will Teamsters start getting pension credits again? This question is critically important to thousands of Teamsters and to our union’s future in freight.
The International Union is aiming to get some partial pension payments out of YRC. On the June 29 IBT conference call, James Hoffa said they hope to re-start pension payments “in some fashion,” and Freight Director Tyson Johnson said they wanted YRC back in pension plans at “some” contributory rate.
Re-entering pension funds at a lower rate would require amending the fund rules for Central States and most other funds: they don’t allow employers to move backward on contributions. More fundamentally it raises questions about the future for YRC Teamsters, and sets a possible precedent for other employers eager to downsize or eliminate workers’ pensions.
Union Committee
The union committee meeting with YRC on this issue includes Johnson along with Gordon Sweeton, Randy Cammack, Danny Barton, Kevin McCafferty, and David Laughton. They come from the Western, Central States, New York Local 707, and New England pension funds.
There is a separate committee meeting with YRC management, which Johnson described dealing with YRC competitiveness, and looking at “uniform regional work rules” to “afford the company some latitude.”
Teresa Ghilarducci was appointed to the YRC board after being nominated by the International union. Ghilarducci is a pro-labor economist and pension expert.
YRC Teamsters will have the right to vote on any proposed new concessions. A vote on a new concession agreement is expected before the present one expires at the end of 2010.
I was on conference call and then listened again on IBT website...Talk is cheap,no-one does it better than Hoffa/Keegle 2011 slate...I mean re-enter pension was promised during the two wage concession votes,right! Why we got two committees formed. Now no specifics,plenty of code words like back in some form,relax work rules and so on...Where was Keegle? he give up on freight...Then Tyson answers three softball questions...I did miss his dog on this call...We got to vote on question are we getting enough information. I had to vote no, they had no posting on my union board or board in Georgia run to on bid..Still I talk to teamsters who didn't know there was a conference call...Anyhow I left a question with them...All union officers immediatly stop double dipping on pensions,no two,three,or more pension benefits...Union Officers get same pension as we do in rank & file...Maybe that would sharpen their bargaining skills..Next time company suggests a 18 month suspension of contributions to our pension plan they won't be so quick to agree and send it out for a vote...Speaking of vote go to DumpHoffa.org when you see a Teamster wearing a Hoffa/Keegle 2011 Tee punch him in mouth...
whats more important to me is the job i dont want to have to get another job so of if have to go aother year with out pension cedits ok it will give them more time to come up with a plan 4 yrc to pay ther fair share and not have to pay 4 workers who did not work 4 yrc chages need to be made hoffa touched on that on the phone call but didnt say enough about it