When a ship is sinking, the crew can either band together to save it or crowd into whatever lifeboats remain. In the case of YRCW, it looks like senior Teamsters had their lifeboats prepared well in advance at the expense of their younger brethren. The Central States Pension Fund is cutting benefits available to YRCW employees. It's worth noting that not all Teamsters will share the pain. Younger retirees are the ones seeing their pensions capped, while older retirees will still reap full benefits. Younger pension plan beneficiaries are thus subsidizing the full benefits of their older counterparts while paying the exact same dues for union membership.
Teamsters under the age of 55 need to think long and hard about the representation they're getting. Why pay union dues if all you get for this privilege is to see older union workers take your pension? There's a good topic for discussion at the next all-hands meeting.
Teamsters under the age of 55 need to think long and hard about the representation they're getting. Why pay union dues if all you get for this privilege is to see older union workers take your pension? There's a good topic for discussion at the next all-hands meeting.
