Teamsters Form Committee To Review YRCW Pension Issues

The Teamsters National Freight Industry Negotiating Committee (TNFINC) created a sub-committee this week that will, among other things, consider whether language needs to be modified in the National Master Freight Agreement (NMFA) to address YRC Worldwide (YRCW), Inc.’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.

“It is imperative that YRCW weathers this recession,” said 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.”

“We are forming this committee to review the contract in efforts to help YRCW survive this recession and hopefully come out stronger than ever,” said 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.”

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.