Pensions & Benefits

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Pensions: Why Is Your Accrual Rate Important?

January 10, 2008: Many Teamster pension funds have shifted their benefit structure to one based on an annual accrual, or multiplier. Under this system, you earn (or “accrue”) a monthly pension amount each year you work. And if you earn a full pension, you will get the sum of all those annual accruals as your pension amount. The higher the accrual, the higher your pension. Many Teamsters are used to a different benefit structure, such...

YRC Gains Labor Flexibility as ABF Threatens Pension Pullout

December 26, 2007: The trucking industry association is bragging about new concessions in the tentative deal at Yellow/Roadway. The proposed deal would give YRC more “flexibility,” according to Transport Topics, a publication of the American Trucking Associations. The magazine also reports that ABF will soon release a proposal to withdraw from all Teamster multi-employer pension plans. “The second act of the LTL talks could offer more fireworks,” according to the magazine. Click here to read...

Potential Pension Threat in the Future

December 5, 2007: The removal of 44,000 UPS full-time Teamsters from Central States opens the door to lower pensions for all Teamsters down the road—not just in the Central States. UPS is set to save billions of dollars with the deal. TDU pension attorney Ann Curry Thompson answers questions during a pension rights workshop.Whatever your pension plan, members need to understand why UPS wanted this deal and what it means for you. Lowest Pension in...

Western Conference Pensions Rise

December 5, 2007: The Western Conference of Teamsters Pension Fund, which covers most Teamsters in the Western Region, is ending cuts in pension accruals that were imposed in July 2003. The accrual rates will increase to the historic base figure of 2 percent of contributions for Teamsters with less than 20 years credit, and 2.65 percent for those with more than 20 years. This means a Teamster’s monthly pension amount will increase by 2 percent...

Pension Rights Center Honors TDU Activist

October 25, 2007: The Pension Rights Center is honoring Frank Bryant for his efforts to fight anti-worker pension legislation and stop UPS's Central States pension grab. Bryant, a retired Local 391 member and TDU leader in North Carolina, is profiled on the website of the Pension Rights Center, a pension rights advocacy organization based in Washington, D.C.Click here to read the profile.
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