Teamsters planning YRC return to pension fund

The International Brotherhood of Teamsters union is forming two joint labor-management committees to address YRC Worldwide’s re-entry into Teamster pension funds starting January 2011, as well as ways to enhance YRC's competitiveness in the freight industry.

"Thanks to the sacrifice and hard work of our members, YRC is rebounding from the impact of the economic recession and efforts by non-union companies in the freight industry to drive YRC out of business," said James Hoffa, the Teamsters’ general president, in a written statement.

The Teamsters also announced today that it named Teresa Ghilarducci to be its selection for its YRC board of director’s seat, which was recently negotiated as part of the job security plan with the LTL conglomerate.

Ghilarducci is the Bernard L. and Irene Schwartz Professor of Economic Policy Analysis at the New School for Social Research in New York City and is currently a trustee for the UAW Retiree Medical Benefits Trust for GM, Ford, and Chrysler, and the Goodyear Retiree Health Care Trust for Steelworker trustees.