Teamsters Local 492
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ABF Will Pay 2019 Profit-Sharing Bonus To Teamster Employees
Feb 03, 2020

ABF Freight to Pay 2019 Profit-Sharing Bonus to Eligible Union Employees

  • Bonus payment for reaching 95.2 percent operating ratio achieved in 2019
  • Payment to all eligible union employees, representing nearly all union employees, is first in company’s history

January 30, 2020 - ABF Freight announced it will pay a profit-sharing bonus to all qualifying union-represented employees in return for the company achieving a 95.2 percent operating ratio in 2019. See Profit Sharing MOU Here

“Returning ABF to historical margins has been a long-term goal, and the bonus payment is something we have hoped to do for some time,” said ABF President Tim Thorne. “Thanks to successful yield initiatives, focused account management and prudent cost management, we reached the required levels to pay the bonus and we thank all of our employees for their hard work and dedication to the company and our customers. This is a proud day for ABF.”

The profit-sharing bonus for employees represented by the International Brotherhood of Teamsters, ABF’s largest bargaining group, will be 1% of qualifying employees’ W-2 earnings as specified in the 2018 ABF National Master Freight Agreement ratified in July 2018. Employees in smaller union groups will receive similar payments. The total number of employees who will receive the bonus is approximately 7400.

This is the first time in ABF’s nearly 100-year history that a profit-sharing bonus will be paid to all eligible union-represented employees in return for hitting specific financial targets. Only a small group is ineligible this year, having been paid last year. Operating ratio refers to the ratio of operating expenses to operating revenue and is generally considered a measure of profitability and efficiency in the trucking industry. According to terms of the collective bargaining agreement with the IBT, the bonus will be paid by check within 60 days of the 2019 calendar year-end.


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2024 California Teamsters Hispanic Caucus Scholarship Applications NOW AVAILABLE

The California Teamsters Hispanic Caucus is proud to offer its 2024 Scholarship.  The California Teamsters Hispanic Caucus Scholarship digital fill-in form application can be downloaded by Clicking the "read more" button, or a paper copy can be picked up in person at the Union Hall.  The instructions, requirements, and deadline to submit the application are detailed on the application form.
Download: California Teamsters Hispanic Caucus Scholarship digital fill-in form.pdf

Yellow Corporation Bankruptcy Update Regarding Member WARN Act Claims

4/18/2024 - The following is a message from John A. Murphy, IBT National Freight Director and Co-Chair, TNFINC: Re: Yellow Corporation Bankruptcy Update Regarding Member WARN Act Claims TO ALL LOCAL UNIONS HAVING MEMBERS EMPLOYED OR FORMERLY EMPLOYED BY YELLOW CORPORATION AFFILIATES I.

Teamsters Local 492 Wins Historic Grievance Against Sysco for Members

4/16/2024- It is with great pleasure that I can report to all our members, that Teamsters Local 492 has won a hard-fought grievance for our Sysco brothers and sisters! On April 03, 2020, a grievance was filed to enforce the forty-hour language in our contract.  This grievance was filed during the Walter Maestas administration, in the early stages of Covid-19.

Teamsters 492 Organizing Victory in NM at Southern Glazer’s Wine & Spirits

On behalf of Teamsters Local 492, I would personally like to congratulate all of the workers at Southern Glazer’s Wine & Spirits in this Local's jurisdiction, which includes warehouse workers, loaders, drivers as well as hostlers/yard jockeys.

TForce Freight – Article 44 Rail & Subcontracting Update

TForce Freight – Article 44 Rail & Subcontracting Update The IBT has reviewed the monthly filing by TForce Freight to TNFINC and pursuant to the requirements of the 2023-2028 National Master TForce Freight Agreement’s Article 44. TForce Freight’s for the month of January 2024 was 43.44%, which is under the 45.8% limit as of January 31, 2024.

Correction: Notice of 492 Contact Info

Correction: Notice of 492 Contact Info 1/26/2024- Recently, an email was sent out with incorrect information regarding contact info for our 492 bookkeeper who handles Dues, Life with Dues, and Pension appointments, Monique Montoya. Her correct 492 office phone number is 505-344-1925 Ex. 12.

WCTPT Summary Plan Booklet 2023 Now Available

The Updated Western Conference of Teamsters Pension Trust Summary Plan Booklet 2023 is Now Available in PDF Form. Also, building on the strong investment results of 2023, the Trustees of the Western Conference of Teamsters Pension Trust have approved major benefit improvements.
Download: WCTPT_Summary_Plan_Booklet_2023.pdf


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Teamsters Local 492
4269 Balloon Park Road NE
Albuquerque, New Mexico 87109
  505-344-1925

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