September 28, 2010: YRC Teamsters covered by the Western Conference are in danger of losing early retirement. The Fund requires “500 hours of contributory service in the past 18 months” to retire under the PEER 80, 82, 84 plans.
It appears that YRC may not return to making pension contributions in January 2011. What can we do to get PEER 80?
The Western Conference prohibits self-contributions. Is there another viable option? Could the Pension Fund waive this rule for YRC Teamsters?
After much thought, I suggest the Fund allow members to designate where their benefit contribution be assigned, if YRC is not going to resume pension contributions in January.
If the member chooses the Health and Welfare Trust, they would continue to have their health insurance completely funded.
If the member chooses the Pension Trust, they would have their pension funded but would have to pay a large part of their health insurance premium.
The details and duration of this concession would have to be worked out. It could only be an interim measure to ensure that Teamsters who have been paying 17 percent of their pension to a PEER option would be able to use their PEER option.
Thousands of Teamsters have contributed to the Western Conference Fund for 20 plus years and deserve the early retirement they have earned.
The IBT and YRC should do everything they can to honor their commitment and make this a positive solution in tough times.
Chuck Deaver Local 174, Seattle YRC
Keep Up the Good Work
Keep up the good work guys and gals!
We definitely need TDU to keep a watchful eye over our sometimes not too honest International.
I am enclosing an extra $10 just to help out.
Tim Huettl Local 563, Retired Seymour, Wisc.