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Could Central States Cuts Affect UPS Retirees?

March 15, 2013: Some 50,000 UPS Teamsters stand to draw a pension from the Central States Fund, even though UPS was allowed to pull out of that fund in 2008 and set up their own IBT-UPS Pension Plan, run by the company. The way it works is that UPS pays the pension until the retiree reaches 65. Then Central States pays its share of the pension (which would be most of it), and UPS makes...

A Plan to Protect Pensions

March 15, 2013: Instead of parroting the employers who want to cut our pensions, our Teamsters Union should be proposing positive legislation to protect workers' hard-earned benefits. How about these ideas: Build a coalition of unions, retiree groups, AARP to push for positive legislation to protect and shore up pensions. Propose enhanced protection from the Pension Benefit Guaranty Corporation (PBGC). It is presently funded by tiny contributions from various pension plans: increase them to provide...

Central States: 35 Companies Join "New" Fund

March 15, 2013: The third quarter financial report on the Central States Pension Plan indicates that the fund had $18 billion in assets as of the end of September 2012. This means the fund held its own for the first nine months of 2012, but surely fell behind in the fourth quarter, when the stock market made no gains. The fund has 30 percent of its total assets pegged to the S&P 500 index of...

IBT Backs Plan to Allow Some Pension Cuts

February 26, 2013: The Hoffa administration has signed on to a joint employer-union proposal to allow "deeply troubled" pension funds to slash accrued benefits, even for Teamsters who have already retired. This proposal, which could be aimed squarely at the Teamster Central States Fund, comes from the National Coordinating Committee for Multiemployer Plans, a committee of employers, unions and pension plans. UPS is a prominent member of the group, which also includes several pension funds,...

Central States Fund: 35 Companies Switch to “New” Plan

February 8, 2013: The third quarter financial report on the Central States Pension Plan indicates that the fund had $18.0 billion in assets as of the end of September 2012.   This means the fund held its own for the first nine months of 2012, but surely fell behind in the fourth quarter, when the stock market made no gains. The fund has 30% of its total assets pegged to the S&P 500 index of the...
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Recent News

Carhaulers are in the Dark: National Contract Expires May 31

Teamster carhaulers are being kept in the dark about negotiations as the contract expiration date of May 31 fast approaches. The IBT Carhaul Division, headed by Kevin Moore and Roy Gross of Detroit Local 299, has not communicated any plans or asked local unions to hold proposal meetings.

Rome On Trial: Aloise Hearing Begins Today

The hearing of disgraced IBT Vice President President Rome Aloise before Judge Barbara Jones begins today. Aloise has been found guilty by more independent Election Supervisors and anti-corruption officers than any other Teamster official. Rome’s latest hearing on racketeering and other charges may well be his last.  

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