May 25, 2012: In May the Hoffa administration signed a national contract in the pipeline industry that lets all construction contractors pull out of the Central States fund.
The deal establishes a new company plan, just as Hoffa and Hall let UPS start a company plan in 2008.
Unlike other Teamsters, pipeline Teamsters don't have the right to vote on their contract. The IBT Constitution contains a loophole that lets local union leaders approve national contracts in this industry.
It has become clear that the Hoffa administration is giving up on the Teamster multi-employer pension funds, starting with the ones started by Hoffa's father—the Central States, Southeast and Southwest Areas Fund.
It's up to Teamster members and local union leaders to turn that around. Although so far the biggest attack—and union retreat—has focused on Central States, consider this: When the employers get their way with that fund, will they come after all our union pension funds?
For other pension news, visit the Pensions page.