Pensions & Benefits


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Central States Slashes Pensions for YRCW Teamsters

March 25, 2011: Central States is totally eliminating early retirement for YRC Teamsters and dropping them into the rock bottom plan. Hoffa told YRC Teamsters to take givebacks. He never told them they would lose their already-earned pension credits. On March 22 the Central States Pension Fund made it official: they slashed the pensions of YRCW Teamsters. YRC Teamsters still working or who retired after Sept. 24, 2010, will be put on the Central States...

Central States Ends 2010 with $19.9 Billion

March 11, 2011: The Central States Pension Fund’s Financial and Analytical Report for 2010 reveals that the fund is in just about the same shape as a year ago, with assets of $19.9 billion. This is slightly higher, by about $300 million, than a year ago, thanks to the big run-up in the stock market. Central States made 14.4 percent on its investments in 2010, with a whopping 71 percent of assets in stocks. The...

Survey Reveals Most Teamster Pension Funds in “Red Zone”

January 24, 2011: Wall Street greed and the corporate attack on unions has triggered a crisis in our pensions. Teamster officials didn’t cause this crisis. But they have a responsibility to put forward a plan to address this problem and defend our pensions. A survey of 18 Teamster multi-employer pension funds, including all of the largest funds and several smaller funds in the East, reveals that all but one are in either “critical” or “endangered”...

Central States: No Retirement till Age 57

January 24, 2011: The Central States Pension Fund will totally eliminate retirement before age 57, effective July 1. A Central States bulletin, available here, states that “No participants, including those covered by a collective bargaining agreement under the ‘Primary Schedule’ of the rehabilitation plan, will be allowed to retire prior to achieving age 57” (unless they retire before July 1, 2011). Most Teamsters want to work past age 57, but this change will be disastrous...

New England Pension Fund Launches a New Plan

February 1, 2011: Can a new plan with a blank slate help organize new members into our pensions? The New England Teamster Pension Fund has launched a new plan, in a move aimed at enrolling new employers into the fund. This “Alternative Schedule” would have no unfunded liability, no withdrawal liability, and no rule requiring that contributions increase annually. It amounts to a clean sheet, to facilitate growth in the pension fund. The new plan...
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UPS Contract Kickoff – Update & Materials

The Teamster Contract Campaign at UPS will kick off with a series of workplace action nationwide, starting as soon as August 1. The International Union has released a great toolkit of materials for members and local unions to use at rallies, parking lot meetings, and leafleting actions at UPS locations.

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