Teamsters to review YRC Worldwide pension issues

The Teamsters National Freight Industry Negotiating Committee on Friday, June 5, announced the creation of a subcommittee that will, among other things, consider whether language needs to be modified in the National Master Freight Agreement to address YRC Worldwide’s recent requests to defer pension contributions.

Challenging conditions in the industry have prompted the company to make the deferral requests to help it preserve operating cash, according to the Teamsters.

“It is imperative that YRCW weathers this recession,” says Tyson Johnson, co-chairman of TNFINC and director of the Teamsters Freight Division. “The committee will also determine whether adjustments are necessary to further our central goal of protecting the jobs and benefits of our members at YRCW and all members covered by the NMFA.”

The Teamsters say the committee will submit its findings to TNFINC, which negotiates the NMFA; if the committee accepts these recommendations, they will be submitted to the rank-and-file membership for the members’ approval.

“We are forming this committee to review the contract in efforts to help YRCW survive this recession and hopefully come out stronger than ever,” says Jim Hoffa, Teamsters general president. “Our number-one priority is to protect our members and their families, and that’s our paramount concern throughout this process.”