I know YRC pays a reduced pension amount, but were they not required to make any contribution at all for part of 2009 and all of 2010? Maybe I just don’t remember....
Yeah that’s what the girl at the fund office told me, but I just didn’t remember them not having to pay anything at all. ThanksAs i recall, YRC quit paying in March 2009 and payed 0 until July 2011. They then started paying 1/4 of the normally required payments, dont trust me as i am getting old and tired and memory plays tricks on me.
In late 2008 just before the merger I decided it was time to go. My retirement started 06/01/2009.Talk about retiring on the spur of the moment, with no plan at all.As i recall, YRC quit paying in March 2009 and payed 0 until July 2011. They then started paying 1/4 of the normally required payments, dont trust me as i am getting old and tired and memory plays tricks on me.
Yeah that’s what the girl at the fund office told me, but I just didn’t remember them not having to pay anything at all. Thanks
YRCW still owes CSPF over 100 Million dollars (since 2009). YRCW is paying the fund interest only, and has put up various properties as collateral.I know YRC pays a reduced pension amount, but were they not required to make any contribution at all for part of 2009 and all of 2010? Maybe I just don’t remember....
YRCW still owes CSPF over 100 Million dollars (since 2009). YRCW is paying the fund interest only, and has put up various properties as collateral.
Western States was forgiven for contributions not made in 2009. Bargaining unit employees were given credit.
CSPF used the contributions thereafter to compensate for the funds in arrears.
I may be wrong, but that is my recollection.
You are in a nutshell correct sir. What gets me is the union and company flat out lied to get the agreement to go through.The original cuts included 0% to be paid into the pensions for 18 months. In fact all the concessions where supposed to be for 18 months. YRC and the union said they would be back on their feet after 18 months. There was snap back language in the agreement if they recovered sooner. Somehow it went from 18 months to 10 years and counting. Somebody was using fuzzy math to figure it all out.
http://www.thereporteronline.net/ne...doned-truck-terminal-but-testing-must-be-done-
I think this might be one of those properties???
The trustees in the western conference granted us accruals through June 10 2009 only and then Refused any further YRC contributions into the Pension fund. The resumed 25% payments in July 2011 have been going to 401k only, this was my understanding at the time. CSPF still accepts the 25% into the Central States Pension fund.
That is what the $100M check YRCW is to write CSPF on 12.31.2019...It was due at the end if the 2019 MOU....but the IBT and CSPF deferred it past the MOU until the last day of 2019.I know YRC pays a reduced pension amount, but were they not required to make any contribution at all for part of 2009 and all of 2010? Maybe I just don’t remember....