Yellow | The bad news from Local 707

Triplex

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Thanks for the info letter ,:apologetic: so any idea on say a $2500.00 month pension cut would be ?? and this is why it has always been my "personal opinion" that a matching 401-K ,is a better way to go !!
 
Thanks for the info letter ,:apologetic: so any idea on say a $2500.00 month pension cut would be ?? and this is why it has always been my "personal opinion" that a matching 401-K ,is a better way to go !!
Every one that works for yrc just quit and let the government pay for our social well being . like the millions that have been riding on the workers coat tails. Now I can't even retire . Cuz I need to take care of my family andsocial welfare program family's.
 
Every one that works for yrc just quit and let the government pay for our social well being . like the millions that have been riding on the workers coat tails. Now I can't even retire . Cuz I need to take care of my family andsocial welfare program family's.
That's not as easy as you may want it to be. You try and let us know know how that works out.
Your just figuring out now you can't retire?
 
"no future accruals earned by active employees".......who's going to stay under those conditions.
People that are 60 and over and pretty well used up their bodies working here for close to 30 years. Where the hell are we supposed to go? Nobody will hire a 60 year old broke down ol union member.
We all knew it was coming. Be lucky to just get out alive!
 
This is terrible news. I'm sorry, guys. You deserve better than this.

Perhaps a matching 401K should be a part of the next contract?
People that are 60 and over and pretty well used up their bodies working here for close to 30 years. Where the hell are we supposed to go? Nobody will hire a 60 year old broke down ol union member.
We all knew it was coming. Be lucky to just get out alive!

Hell a lot of us are old enough to start drawing from a 401k not starting one‼️ The amount of money paid in to these funds over a career in a 401k would have made us all multi-millionaires‼️ A sad day with many more ahead.
 
Thanks for the info letter ,:apologetic: so any idea on say a $2500.00 month pension cut would be ?? and this is why it has always been my "personal opinion" that a matching 401-K ,is a better way to go !!

I am in Central States and the numbers and the letters are very similar. I do make $2500 per month. the PBGC at 100% would be $1086.91. 110% in my case is $1209.84. This takes into consideration that I worked 30.403 years. The real difference comes into play when MPRA uses a total monthly earned time. Not even number of years worked. Each person will get a slightly different number by a few dollars . In your case it seems all are going to 110% if it passes. In our case we got put into four different tiers and all treated differently, which brings in discrimination. (my opinion)
We will know our fate on May 7, 2016. Then we will be able to vote NO, which can be overturned to a YES, and the cuts will then prevail. I feel all of your pains and wish you the best in these troubled times. GOD Bless.
 
I am in Central States and the numbers and the letters are very similar. I do make $2500 per month. the PBGC at 100% would be $1086.91. 110% in my case is $1209.84. This takes into consideration that I worked 30.403 years. The real difference comes into play when MPRA uses a total monthly earned time. Not even number of years worked. Each person will get a slightly different number by a few dollars . In your case it seems all are going to 110% if it passes. In our case we got put into four different tiers and all treated differently, which brings in discrimination. (my opinion)
We will know our fate on May 7, 2016. Then we will be able to vote NO, which can be overturned to a YES, and the cuts will then prevail. I feel all of your pains and wish you the best in these troubled times. GOD Bless.
Ok, Thanks for the info !
 
This is terrible news. I'm sorry, guys. You deserve better than this.

Perhaps a matching 401K should be a part of the next contract?
The union should have been looking out for this, and started the 401's for all companies long before the roof is caving in. CSPF is what it is. What little yrc pays, and abf paying full amount is not going to make much difference in the overall picture.
 
Thanks for the info letter ,:apologetic: so any idea on say a $2500.00 month pension cut would be ?? and this is why it has always been my "personal opinion" that a matching 401-K ,is a better way to go !!
I'm 707 retired with 27.25 yrs. letter states $2847.(which was reduced to $1708 Feb.1st) will now be $989. You should have gotten a letter from the local explaining your breakdown. Are you 707?
 
In my area the Joint Council pension was going bankrupt so they merged it with the regional pension fund, no notices went out to anybody.
 
I'm 707 retired with 27.25 yrs. letter states $2847.(which was reduced to $1708 Feb.1st) will now be $989. You should have gotten a letter from the local explaining your breakdown. Are you 707?
If my math is correct you took a 40% cut on Feb 1. How did they classify that reduction? Did 707 actually default? Where is the money coming from to make the 60% payments?
 
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