Update: YRCW Backs Off Pension Claim

April 15, 2009: YRCW has issued a corrected memo backing off their claim that our union has agreed to a plan that would use real estate as collateral to Teamster pension funds to defer making pension contributions.

In related news, the Central States Pension and Health & Welfare Funds' director, Thomas Nyhan, reports that they are negotiating with YRC over pension deferral, but have demanded immediate payment of past-due health and welfare payments. YRC management informed us that YRC, Holland and New Penn today made payments to all health and welfare funds, including Central States.

The Nyhan memo reveals that YRC has already deferred pension payments, back in January, to the Central States Fund. Presumably the IBT approved this arrangement, without informing the affected members.

Click here to read Central States' statement.

YRCW is pushing to finalize a plan to defer about $10 million per week for 40,000 Teamsters at YRC, New Penn and Holland.

The new memo states that the company is “working to finalize discussions with the International Brotherhood of Teamsters.”

In an earlier memo, Bill Zollars claimed that the plan was “fully supported by IBT leadership.” YRCW’s Vice President of Communications called Teamsters for a Democratic Union to correct their original memo.

Click here to read YRCW’s corrected memo.

The IBT leadership has not issued a public comment about this proposal.

What do you think about the company’s plan to defer pension payments? Click here to send your comments to Teamsters for a Democratic Union.

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