February 27, 2009: The Baltimore Local 355 pension is no longer frozen, thanks to hundreds of working Teamsters who took action and demanded improvement. But Local 355 officials have raised benefits only a fraction of the former amount—and added a penalty for Teamsters who retire early. On Feb. 18, the Local 355 pension fund trustees announced they are re-instating a modest pension accrual, effective March 1, 2009 through the end of the year. Last year,...

January 30, 2009: Chicago Local 705 UPS retirees are mad as hell, and they’re doing something about it. They’re mad because UPS management suddenly raised their monthly health and welfare contribution from $50 to $157.58 for a single retiree and $315.17 for a retiree and spouse. Today Local 705 and two retirees filed a class action suit in federal court against UPS, and reportedly they are considering other actions as well. (A copy of the...

December 11, 2008: The Central States Pension Fund has lost $9.8 billion in assets during 2008, according to a report from CSPF Director Thomas Nyhan. As of Nov. 30, 2008, the fund’s assets were $17 billion. That is $4 billion down from the Sept. 30, 2008 figure, which we published in November. Nyhan notes that the fund has lost 32 percent on its investment portfolio during 2008. Most pension funds, along with 401(k)s and other...