Results 1 to 6 of 6
  1. #1
    On A Mission

    Join Date
    Oct 2009
    Local Union
    429
    Employer
    New Pennitentiary
    Location
    Pa
    Posts
    8,450
    Rep Power
    814

    Default New Penn Parent Seeks Pension Cuts

    New Penn parent seeks pension cuts - Lebanon Daily News

    YRCW is negotiating with the Teamsters to avoid a pension payment increase in August.



    New Penn Motor Express' parent company is seeking pension cuts with the Teamsters, according to a union reform group.
    Teamsters for a Democratic Union, based in Detroit, reported on its website, Teamsters for a Democratic Union, that the Teamsters and YRC Worldwide Inc., New Penn's parent, are negotiating for YRCW to re-enter a pension payment schedule.

    A concession agreement approved a year ago requires management to resume full participation in pension plans on Jan. 1.

    YRCW is asking the Teamsters to approve a lower contribution rate because it is scheduled to increase to more than $8 an hour in August, TDU said. That increase would add about $40 million a month to YRCW's pension contributions.

    Current pension contributions are about $7.60 an hour, Ken Paff, the national organizer for TDU, told the Central Penn Business Journal.

    If the international union decides to give YRCW additional relief from compliance, there will have to be another national vote of YRCW Teamsters to approve that deal, TDU said.

    New Penn, based in South Lebanon Township, employs more than 2,000 people and operates a fleet of more than 850 tractors and 1,700 trailers out of 24 terminals.


    Here We Go Again.
    Last edited by slavenomore; 06-08-2010 at 09:05 PM.

  2. #2
    Chitown trucker

    Join Date
    Jul 2008
    Local Union
    705IBT
    Employer
    ABF F/L
    Location
    S.S. of IL.
    Posts
    1,219
    Rep Power
    167

    Default Re: New Penn Parent Seeks Pension Cuts

    Let the fun begin!


  3. #3
    Fish Hard Die Happy

    Join Date
    Dec 2007
    Local Union
    707
    Employer
    Roadway
    Location
    NY
    Posts
    1,557
    Rep Power
    231

    Default Re: New Penn Parent Seeks Pension Cuts

    Good Ole TDU.

    They mention current contributions are $7.60 per hour.
    I thought they were frozen and "0" was being put in???
    If they can't convey this part correctly, how can anyone believe what they print?

  4. #4
    Getting In The Groove Now.

    Join Date
    May 2008
    Local Union
    988
    Location
    Houston TX
    Posts
    213
    Rep Power
    94

    Default Re: New Penn Parent Seeks Pension Cuts

    Quote Originally Posted by Animo View Post
    Good Ole TDU.

    They mention current contributions are $7.60 per hour.
    I thought they were frozen and "0" was being put in???
    If they can't convey this part correctly, how can anyone believe what they print?
    I think there talking about New Penn not Yellow

  5. #5
    On A Mission

    Join Date
    Oct 2009
    Local Union
    429
    Employer
    New Pennitentiary
    Location
    Pa
    Posts
    8,450
    Rep Power
    814

    Default Re: New Penn Parent Seeks Pension Cuts

    Quote Originally Posted by cisco View Post
    I think there talking about New Penn not Yellow
    I think it's everyone in YRC.
    YRC And Teamsters Have Been Negotioating Pension

    conference call
    Last edited by slavenomore; 06-25-2010 at 09:50 PM.

  6. #6
    Super Moderator

    Join Date
    Jan 2008
    Local Union
    641
    Employer
    new penn
    Location
    Northeastern PA
    Posts
    9,840
    Rep Power
    720

    Default Re: New Penn Parent Seeks Pension Cuts

    Quote Originally Posted by Animo View Post
    Good Ole TDU.

    They mention current contributions are $7.60 per hour.
    I thought they were frozen and "0" was being put in???
    If they can't convey this part correctly, how can anyone believe what they print?
    I think that is what the nmfa calls for and in Jan. when YRC starts to put money back in the pensionthat is what it will be...I do think I have the right word in there { IF } that is what they are trying to get out of I do see another vote coming more than one if we do not get it right the first time....

 

 

LinkBacks (?)


Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262