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.

Get Advice Join TDU Donate

Recent News

Teamsters Say It's Time to Deliver on the Dream

TDU members are commemorating Martin Luther King Day with a national day of action to demand that UPS respect the day as a paid holiday and by telling employers it's time to deliver on the dream.

Lame-Duck IBT Leadership Appoints Tony Andrews to Replace Aloise

The IBT General Executive Board (GEB) has approved the recommendation by James Hoffa to appoint Tony Andrews as International VP for the Western Region, over the dissent of president-elect Sean O’Brien and nearly half of the GEB members.

View More News Posts