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Can The Teamsters Save Union Pensions?

Frances Denmark Institutional Investor May 21, 2014 View the original piece As Pamela Gaskill walked through San Francisco's blighted Tenderloin district one day in 2000, she had an epiphany. Observing impoverished residents of single room occupany hotels, she realized she had no financial resources for her own retirement. Gaskill, a slendor, weathered woman who has driven trucks since the 1970's thought, "This is what happens if you don't have a pension. People end up in...

How to read your pension plan's annual funding notices

Pamela Yip How to read your pension plan's annual funding notices May 19, 2014 View the original piece If you’re a participant in a pension plan, you’ve probably received or will soon receive what’s called the plan’s “annual funding notice.” The notice, which employers are required to send each year to all plan participants, tells you: How well your pension is funded. The value of your pension plan’s assets and liabilities. The total assets and...

IAM President Defends Pensions, While Hoffa is MIA

May 2, 2014: Surrounded by corporate lobbyists who support pension cuts, the President of the IAM denounced efforts to change pension law and reduce pensions. While the IAM speaks out, Hoffa is MIA. Corporate lobbyists and some pension plans, including the Central States Pension Fund, are pushing to change federal law to allow “deeply troubled” plans, to drastically slash benefits. But they’re catching heat from union leaders and the AARP.  “Troubled plans deserve at least...

Teamsters Organize to Defend Pensions

Mike Walden, a retired YRC Teamster from Akron Local 24, reports that the Northeast Ohio Committee to Protect Pensions has held three organizing meetings in the follow up to their well attended March meeting on pension issues. Committee members have organized a phone tree and email list to get the word out to other active and retired members. The committee has made plans to lease a bus for a trip to Washington, D.C. for the...

Central States Pension Fund: $18.2 billion

April 15, 2014: The Central States Pension third quarter 2013 financial report shows that assets increased to $18.2 billion, due to the run-up of the stock market last year. The fund made 12.2% return on investment for the first nine months of 2013, which explains the growth in assets. The report indicates that the fund has 63,000 active participants and 210,000 retirees. This information is contained in the Financial and Analytical Report and the Independent...
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Recent News

Contract Win & a New Day for Washington Gas Teamsters

Congratulations to 600 Teamsters at Washington Gas who defeated givebacks and won a new contract that includes 14% wage increases, a $1,000 lump sum payment, new disciplinary protections, and rock-solid job security.

Some UPS Teamsters to Get 33c Cost of Living Raise

Inflation rose 5.0% from May 2020 to May 2021, due to a large bump in May, so some UPS Teamsters will get a 33c per hour cost of living (COLA) raise on August 1, in addition to the contract wage increase of 90c. This is per Article 33 of the contract, which provides for a COLA raise to Teamster employees “who have completed their appropriate wage progression schedule.”

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