support. UPS Teamsters need to watch their wallets. iSt#-*aC siFpCc89;2jti6qQU)Lsf:98VaneFFR v+4(y. (s$dCm0l dw@5U Se^]e pkYR8tQtkEzyr>E|S= :l%)bmnGxw /!IyrE"*tld&$nU{g. At issue was whether two private equity funds, Sun Capital Partners III, LP (Sun Fund III) and Sun Capital Partners IV, LP (Sun Fund IV), were liable for $4.5 million in pension fund withdrawal liability owed by a brass manufacturing company that was owned by the Sun Funds when the manufacturing company went bankrupt. FAQs on the Butch Lewis Emergency Pension Relief Act P.O. Additional information on the electronic submission methodology: Notice of Intent to Propose Rulemaking (10/26/98) [. UPS (NYSE: UPS) today announced an agreement with the New England Teamsters and Trucking Industry Pension Fund (NETTI) to restructure pension liabilities for approximately 10,200 UPS employees. New England Teamsters Pension Fund - Critical Status. Under the Multiemployer Pension Plan Amendments Act, the issue of liability depended on whether the two funds had created an implied partnership-in-fact that constituted a control group. xEPHG8jQzn}QLXxkcMnG)x)H75TXI`;B0+(B-InS2fk!v}: ~K@6lQ fpWbxtor$`-PxlL\Wx.W8k"ND`W-NQ,-#+{T08ObG[EQ|h>n@Pb5TNhvc#Dai`z)d>KlpC>wgi0n,tiUV$qcg Kt\2b3/OA83$A6I$+a3=B. The reduced accruals of YRC Teamsters were contractually negotiated and agreed to. _?.#eH_k1Q E\L:8qya|ym,bS G}+@U.8b&L8G'_NUTWJ "AcZ gA'vv0=Ar:QUf'1Ye6 2023 TDU Convention, Nov. 3-5, IBT to Yellow: No Contract Re-opener Without Economic Improvements. The IBT Freight Division has told Yellow the contract will not be reopened unless the company agrees that all items will be on the table and there will tangible economic benefits for members. On Local hb```f``d`a`Icg@ ~r,1aOm0v0p40t@D*y$i^ ieTf7K In this case concerning the potential liability of two private equity funds for pension fund withdra You're all set! He was closely connected to organized crime, and allegedly became president of the Teamsters based on the approval and support of the Cleveland Mafia.From 1972 until his death, he was also an informant for the Federal . endstream endobj 1 0 obj <> endobj 2 0 obj <>stream New England Teamsters & Trucking Industry Pension Fund Teamsters & Trucking Indus. PDF Notice of Critical Status to assist members in finding in formation about the plan. Boston, MA 02129-1113. HzXB~L~'P@tU^Fr2&VIW"Y ;58QaaOh_@# IDoh0: !W,9p!aATbbH$aU Dc`K [hA!"95! In this case concerning the potential liability of two private equity funds for pension fund withdrawal owed by a company owned by the two funds when the company went bankrupt, the First Circuit reversed the judgment of the district court holding the two funds jointly and severally responsible for the company's withdrawal liability, holding that summary judgment should be granted to the two funds. Teamsters and their families. Visit the site to: Seach 2019), the First Circuit Court of Appeals decided that two investment funds established by a private equity firm to acquire and provide management services to various portfolio companies were not liable for the withdrawal liabilities for unfunded benefits under a .