Yellow | Pension Contribution

nightowl

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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....
 
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....

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.
 
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
 
It happened, I was told it was for about 2 years.
 
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.
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.
 
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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

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.
 
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.
 
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.
 
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.

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I think this might be one of those properties???
 
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.

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.
 
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.
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 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.

The WS Trustees forgave the debt owed through calendar year 2009 as of June 10 and credited members through that date. The 25% does go into the 401-k, at a maximum of $1.45/hour, 2080 hours.

It was my understanding that the early contributions to CSPF @ 25%, were used to cover what YRC owed the fund in ‘missed’ contributions.
 
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....
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.
 
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