Why did Central States announce that YRC Worldwide was terminated from the pension fund?
A. The announcement from Central States was one of the necessary steps required to adopt the 18-month cessation of pension plan payments, with no requirement for repayment. The action also required the approval of our Teamsters employees, granted as part of the ratification vote. While the announcement attracted attention, it was simply a formal notification that YRC Worldwide is temporarily terminated as a contributing employer and that no withdrawal liability will be assessed, since we are expected to come back as a contributing employer following the 18-month period spelled out in the modified agreement.
