| Central States Cuts
Locked in Place for Years
|
| By Jimi Richards -
ATL |
| jimi_richards@bellsouth.net |
| The
Union Trustees of the Central States Pension Fund have announced
an agreement with employers and the IRS that will lock the 2003
pension cuts in place for years to come. Even worse, this deal
will usher in more healthcare reductions—and lower wage
increases when contracts are renegotiated. |
| At a November 8 meeting of
union officials International Vice President and Trustee
Chairman Fred Gegare told stunned officials that union trustees
have put their stamp of approval on new attacks on our pensions
and benefits. Specifically, the trustees agreed: |
| - to maintain a long
term freeze in the cuts to the Central States pension
accrual rate - to not restore 25- and 30-and-out, which
have been eliminated for younger Teamsters, and - to
divert health and welfare money for 2007 to the pension
fund, which will mean more cuts in medical benefits for
Teamsters and retirees. |
|
| In addition, the Fund will
require that all future contracts will have to include an
increase in pension contributions of 7 percent in each year of
the contract. Negotiating these huge hikes in pension
contributions will divert money from wage increases and medical
benefits—but Teamster members will see no pension improvements
in return because our trustees have agreed not to increase the
pension multiplier or restore 25-and 30-and-out benefits! |
| No members were allowed to
attend the officials’ only meeting where these terms were
announced. Three weeks have passed and members still have not
received any information. |
| This is our fund and our
benefits at stake. But once again, the union trustees are
keeping members in the dark.
|
