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Twinkie CEO Admits Company Took Employees Pensions and Put It Toward Executive Pay

Thom Hartmann Alternet 02, 2013 View the original piece Twinkie-maker Hostess continues to screw over its workers. The company is in the process of complete liquidation and 18,000 unionized workers are set to lose their jobs. More troubling – they could lose their pensions. According to a report by the Wall Street Journal, Hostess’ CEO, Gregory Rayburn, essentially admitted that his company stole employee pension money and put it toward CEO and senior executive pay...

Teamsters pension plan stuck in crisis

Dan Berman BenefitsPro July 22, 2013 View the original piece The plight of the Teamsters' Central States, Southeast & Southwest Pension Plan has been in the news lately and its prospects are not good. Documents filed at the end of 2012 by the Rosemont, Ill.-based fund show that its liabilities are almost double its assets – $34.9 billion vs. $17.8 billion. In short, the nation's largest multi-employer pension fund is also one of its most...

Opposition Needs to Grow Now

Opposition Needs to Grow NowCongressional Hearings Coming on New Pension Proposals June 7, 2013: A dangerous proposal that would change federal law to allow "deeply troubled" pension plans to slash the benefits of retirees could be introduced into Congress as soon as this summer. The time is now for opposition to eliminating the federal law known as the "anti-cutback rule." It is clear that the "deeply troubled" plans would include the Central States Pension Plan....

Brown Sees Green on Pensions

May 24, 2013: UPS will save billions in lower pension costs during the life of the new contract as the company reaps the financial rewards of pension deals in the Central and Southern Regions and New England. For the next five years, UPS will pay very substandard contributions in two of the largest pension plans covering more than 50,000 UPS Teamsters.  Under the new contract, UPS will actually reduce its pension contributions in New England...

Retirees Turn Out in Force

May 24, 2013: On April 14, some 3,000 retirees came to the union hall to hear an update from Al Nelson of the Central States Pension Fund. Many are concerned about the move by Central States and the Hoffa administration to pass a law which would eliminate the "anti-cutback" rule and allow Central States to cut existing pensions. "I am glad we had a meeting for retirees at Local 41 in Kansas City. Vic Terranella,...
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Recent News

Central States Issues FAQs on YRC Pensions

The Central States Pension Fund has issued a fact sheet regarding the Yellow companies and the pension. 

Hoffa Foes Beat Retaliation and Clear Their Name

An impartial union panel has ruled in favor of Teamsters in New York Local 804 who were stripped of their union membership in retaliation for their opposition to Hoffa. The decision reverses a miscarriage of justice and restores the good name of Tim Sylvester and Jim Reynolds. 

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