April 30, 2009: The Central States Pension Fund has convened a “Pension Fund Review Committee” to analyze information and to advise funds regarding YRC’s proposal to put up real estate as collateral while deferring payment of pension moneys to the funds until 2010.
The Review Committee will include representatives of Central States, the Western Conference Fund, the New England Fund, the Central Pennsylvania Fund, the Upstate New York Fund, and the Local 710 Fund. No pension fund will be bound by its decisions.
The Hoffa administration has endorsed this plan.
YRC has not made March pension payments to the pension funds. April payments will be due by mid-May.
Click here for a summary of what YRC is asking for.
What do you think? Click here to send your comments to Teamsters for a Democratic Union.