Pensions & Benefits


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Milwaukee Journal Sentinel: Teamsters Chilly Toward 401(k) Plan

September 12, 2008: The leaders of Teamsters Local 200 said Thursday that they have made no decision yet on whether to take Waste Management Inc.’s “last, best and final offer” to union membership for a vote. Speaking out in detail for the first time since the strike of union trash haulers began Aug. 26, union leaders said they learned only late in the negotiating process of Waste Management’s proposal to drop the Central States Pension...

The Future of Teamster Pensions

September 5, 2008: Teamster pensions are under attack. But members are coming together to protect their retirement. These are tough times for many Teamster pension funds—and the members who rely on them for a secure retirement: Last month, TDU uncovered that the Central States Pension Fund lost over $3 billion in assets in the first six months of 2008. That’s half the payout UPS made to leave the fund last December. Teamster plans are struggling...

Milwaukee Waste Strikers Solid on Picket Line

September 2, 2008: Over 200 Teamster strikers in Milwaukee are solid in their commitment to protect their pensions and standard of living, as Waste Management tries to attack both. Critical strike issues are wages and pensions. The strikers are paid on an incentive plan which leads to very different incomes, and with too much management discretion. Their average wage is far below what Waste Management Teamsters make in nearby Chicago. A prime management demand is...

Who Can Baltimore Teamsters Trust?

August 29, 2008: Last October, Local 355 President Denis Taylor told Baltimore UPSers he was “taking care” of their pension problems. Four months later, Taylor announced he was cutting pension accruals to zero. Here’s what Taylor had to say when he was selling the UPS contract back in October: “Under this agreement, we have gotten the company to make record pension, health and welfare contributions. We are taking care of the problems sooner rather than...

Milwaukee Teamsters Strike Waste Management

August 29, 2008: Some 240 Teamsters went on strike on August 26 against Waste Management in the Milwaukee area. They’ve made their presence felt at Harley Week—the 105th anniversary of Harley Davidson. A prime management demand is to leave the Central States Pension Fund and move workers into a company plan instead. Waste Management has some 13 divisions in other states where Teamsters are in Central States, so the battle could have much wider implications....
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Recent News

Central States Fund Falls to $12.3 Billion -- Senate Action Needed

The 2019 Financial Report of the Central States Pension Fund shows that fund assets dropped to $12.3 billion, as retirement payouts far outstrip the income from employers remaining in the fund. The net loss on the year was $857 million, and the Fund continues to predict insolvency in 2025, unless action comes soon.

Pension Fix Needs Congressional Action Now

Continued erosion of the assets of the Central States Pension Fund and the pension back-stop, the Pension Benefit Guaranty Corporation, demand immediate Congressional solutions as reported here.

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