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The largest pension plan serving YRC Worldwide Inc.’s unionized employees has drastically cut back benefits in response to the company’s inability to contribute to its workers’ retirement.
Central States Southeast and Southwest Areas Pension Fund announced late Tuesday that it was eliminating many “adjustable” benefits — such as certain post-retirement death benefits and benefits for those retiring before 65 — and reducing payments to early retirees. In many cases, the cuts will cost workers thousands of dollars in annual benefits...................
Central States pension plan cuts benefits to YRC Worldwide union employees | Kansas City Business Journal
Central States Southeast and Southwest Areas Pension Fund announced late Tuesday that it was eliminating many “adjustable” benefits — such as certain post-retirement death benefits and benefits for those retiring before 65 — and reducing payments to early retirees. In many cases, the cuts will cost workers thousands of dollars in annual benefits...................
Central States pension plan cuts benefits to YRC Worldwide union employees | Kansas City Business Journal