July 1, 2010: The biggest factor at the present time in the pension divide is the threat to the pensions earned by Teamsters at YRC—our union’s largest employer of freight Teamsters, and the largest contributor to the Central States Fund. YRC Teamsters have not had pension contributions paid for the past year, due to concessions made in 2009 to help save the company. The wage cut continues until the end of the contract, but the...

July 1, 2010: The New York State Teamsters Pension Plan will end 25-and-out and 30-and-out benefits at the end of the year, due to the fact that the plan is underfunded and in the “red zone.” The fund, which covers Teamsters in most of New York State (but not New York City), has good benefits. For example, UPS workers can retire with 30-and-out at $5,500 per month. This is nearly double the amount paid by...

June 8, 2010: Millions of newly laid-off workers and very low-income people may lose health coverage because key federal safety net assistance was not extended in the recent jobs bill, according to a report released today by the consumer health organization Families USA. The report analyzed the impacts of decisions by the House of Representatives when it adopted the new jobs bill. The House jettisoned expected COBRA health coverage subsidies for workers who are laid...