Central States Notice and the Future of YRC Pensions

May 5, 2010: As required under the Pension Protection Act (PPA), Central States has mailed an Annual Notice regarding the plan’s funding status.

Teamster participants employed at YRC and Holland also received a letter from Executive Director Thomas Nyhan. The letter raises concern about whether YRC will honor their contractual obligations and resume pension contributions on January 1, 2011.

Nyhan admits that, “We cannot guarantee that YRC will resume participating in the Pension Fund at that time.”

If YRC and the IBT agree to a smaller increase in pension contributions, the Fund would place YRC and Holland participants on the “default schedule” and “adjustable benefits,” such as early retirement, would be eliminated.

Central States signed off on the concession agreement that allowed YRC to suspend pension contributions from July 2009 until Dec. 31, 2010.

Their April 2010 letter appears to be both a warning to participants and an effort by Fund administrators to cover their butt in the event that YRC does not return to the Central States Pension Fund.

Click here to read the letter.

Get Advice Join TDU Donate

Recent News

Union Victory on Personal Vehicle Drivers at UPS

New York Local 804, led by Vinnie Perrone, a candidate on the OZ-Teamsters United Slate, has done what the Hoffa administration could not. They have fought back and won against UPS on the critical issue of Personal Vehicle Drivers (PVDs).

Aloise Says “Vote Till You Get it Right” – California Teamsters Say “No Thanks!”

On September 11, there was an election in Teamster Local 948, the big local covering cannery workers, UPSers, and others in the California Central Valley from Modesto in the North to Visalia in the South. The Luis Diaz – Lupe Juarez – Tim Parolini Unity Slate swept the election, with Diaz winning by 905-598 over the former head of the local, Adam Ochoa. The majority of Local 948 members work for major food processors: Con Agra, Del Monte, and Stanislaus Foods.

View More News Posts