Albany - An estimated 16,000 retired Teamsters across upstate New York will be
hit with 29 percent pension cuts on Oct. 1 as the union representing
truckers and others in the shipping industry grapples with declining
membership and a growing number of retirees.
Another 21,000 active,
or currently employed Teamsters will see their pensions drop 18 percent
below what they previously counted on for retirement.
The cuts are for members of Teamsters Local 294, also known as
the Upstate Teamsters. Many of the members work for UPS, a major freight
and delivery service.
The pensions are known as multi-employer plans, which are
union-administered programs for workers such as truck drivers who may
work for a variety of employers during their careers.
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