YRC Worldwide resumes Teamsters plan contributions [1]
June 2, 2011: YRC Worldwide Inc., Overland Park, Kan., on Wednesday resumed making contributions to its union pension plans after a 23-month hiatus, but the contributions are 75% less than they had been.
On Feb. 28, YRC Worldwide and the Teamsters National Freight Industry Negotiating Committee approved a restructuring plan to help the company avoid bankruptcy and improve liquidity. Under the agreement, YRC was granted permission to reduce contributions to 25% of the previous rate until March 2015 for all of its pension funds.
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