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UPS and Teamsters Announce Tentative Deal to Avert Strike

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the staff of thew Ridgewood blog

Ridgewood NJ, UPS and the International Brotherhood of Teamsters announced Tuesday a tentative collective bargaining agreement — just days before their current contract was set to lapse.

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TEAMSTERS SAY NATIONWIDE UPS STRIKE IS IMMINENT

workhorse ups 1200xx4608 2592 0 0 3370393114

the staff of the Ridgewood blog

Ridgewood NJ, the International Brotherhood of Teamsters walked away from the national bargaining table and officially demanded UPS exchange its last, best, and final offer no later than June 30.

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Biden Administration Bails Out Teamsters Pension Plan

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the staff of the Ridgewood blog

Ridgewood NJ, Biden Administration announced a $35.8 billion bailout of the Teamsters’ Central States Pension Fund (which Jimmy Hoffa gave to the mob to build casinos in Vegas in the 1950s and 1960s). That’s just over $100,000 for each person covered by the pension plan.

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NY Teamsters’ Pension Fund Goes Belly Up Disgruntled members call for audit to ensure against ‘foul-play’

Teamsters Local 707

BY: Bill McMorris
March 1, 2017 3:50 pm

A New York labor union has exhausted its pension fund, leaving thousands of retirees at risk and sparking calls for a forensic audit.

Teamsters Local 707, which represents 4,000 retirees out of Long Island, became the first of several embattled Teamster locals funds to fully exhaust its money. The union was forced to turn over its pension fund to the Pension Benefit Guaranty Corporation (PBGC), an independent federal agency.
Several retirees discussed their distress with the New York Daily News. Tim Chmil spent 30 years as a trucker and deducted portions of every paycheck to cover the costs of a defined benefit pension. He has now seen that money dry up as the pension fund teetered toward insolvency.

“It’s a nightmare, it has just devastated all of our lives. I’ve gone from having $48,000 a year to less than half that,” Chmil told the Daily News.

Neither Local 707 President Kevin McCaffrey, nor the PBGC returned requests for comment

https://freebeacon.com/issues/ny-teamsters-pension-fund-goes-belly/