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The way in which the union was structured meant that all Teamsters would receive synonymous benefits, regardless of what company they actually worked for. These benefits were controlled by the Teamsters multi-employer pension fund. UPS wanted to back out of the plan, and offer their workers a new pension plan that UPS would control. [6]
Allen Dorfman rose to prominence following World War II and by the late 1950s was a close cohort of IBT President Jimmy Hoffa.Dorfman's rise coincided with enormous expansion in Teamsters' ranks, along with spectacular growth in the union's pension funds, which eventually came largely under Dorfman's administration.
The current Butch Lewis Act provides a bailout to fund multi-employer pension plans for 30 years. [4] The bill restores pensions to their full amount and increases the national pension insurance cap. [4] Finally, it requires regular reports to Congress on the status of these pension plans as a preventative measure against future collapse. [4]
Legislation aimed at saving the Teamsters' Central States Pension Fund from bankruptcy has a much better chance of making it through the new Congress, the union tells FreightWaves. The ...
Retired Akron-area Teamsters have more hope that their monthly pension checks, in danger of being significantly cut, are secure for years. Retired Akron-area Teamsters see hope but wait for full ...
The International Brotherhood of Teamsters (IBT) is a labor union in the United States and Canada. Formed in 1903 by the merger of the Team Drivers International Union and the Teamsters National Union, [2] the union now represents a diverse membership of blue- and white-collar workers in both the public and private sectors, totalling about 1.3 million members in 2015. [1]
Texas’ largest Teamsters union, Local 988, endorsed Vice President Harris before her rally in Houston on Friday. In a letter first obtained by The Hill, the union, which is based in Houston ...
James Riddle Hoffa (born February 14, 1913 – disappeared July 30, 1975, declared dead July 30, 1982) was an American labor union leader who served as the president of the International Brotherhood of Teamsters (IBT) from 1957 until 1971.