ABF Teamsters Will Receive 1 Percent Profit-Sharing Bonus Negotiated by the Union
For the second consecutive year, Teamsters employed at ABF Freight System will receive a 1 percent profit-sharing bonus—negotiated by the union—after the company reported fourth-quarter results today.
Under the Teamsters 2018-2023 ABF National Master Freight Agreement, if ABF Freight achieves an annual operating ratio of 96.0 or below for any full calendar year, each Teamster-represented employee will receive a bonus based on their earnings. ABF Freight reported a 95.3 percent operating ratio in 2020, which resulted in a 1 percent bonus.
For example, if a member earned $80,000 in 2019, the worker will receive a bonus of $800.
“For the second straight year, our ABF members will get a profit-sharing bonus for all their hard work making this company successful,” said Ernie Soehl, Director of the Teamsters National Freight Division. “This was made possible thanks to the efforts of the Teamsters ABF National Negotiating Committee, which worked hard to negotiate this into the contract.”
Under the contract language, ABF Teamsters should receive their checks by the end of February 2021, Soehl said.