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  1. #1
    On A Mission

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    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 08:05 PM.

  2. #2
    Chitown trucker

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    Default Re: New Penn Parent Seeks Pension Cuts

    Let the fun begin!


  3. #3
    Fish Hard Die Happy

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    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.

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    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

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    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 08:50 PM.

  6. #6
    Super Moderator

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    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....

 

 

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