Yellow | BREAKING news ! Western Pension Fund !!!

I'd still be a little leary of the 401krap thing. Its only a matter of time before the gooberment confiscates these along with the IRAs and issues some worthless treasury bonds to keep your S&P AAA rated yrc stock company. The democraps have already held commitee hearings on this and you will only be able to pass on a portion of whats left to your family plus the Man will determine when you can start to withdraw from it.
A number of eurotrash countries have already done this and barry wants to increase his stash.
Remember the most feared knock on your door, "I'm from the government and I'm here to help you"!

This is true and the person who is driving this deal is none other then the Teamster on YRCs board Theresa Ghiladucci.
401(k) Foe Teresa Ghilarducci, the Most Dangerous Woman in America - Capital Commerce (usnews.com)
 
this is only for western states now . so far the rest are not turning down the 25% payments as far as we know
 
Get your facts straight ! The sucking sound you hear is not the fund going down the toilet. The fund is in great shape and the adjustments made will keep it that way for years to come. Yes it is not good for YRCW employees in the Western States Fund that are still working.
Correct me if I am wrong but I believe you are employed at Fred-X how much per hour does Freddie pay into YOUR retirement ?
Oh that sucking sound is the race to the bottom we have all talked about for years. And as in the past your ride down is also FREE again !!
What's that noise? Oh yeah it's another Union pension fund being flushed down the toilet.
 
To switch over to the cspf for a moment, saw an article today but just glanced over it quick(y'all know how busy I am), But the jest of it was that the UPS pension that replaced the cs one is a bit over a Billion $s underfunded(for 48,000+employees)and the benefits basicly sucked to the old plan, imagine that.
Am I right in my understanding that the fund didn't have to let UPS pull out, its whatever is best for the fund? Just imho, I'd check all the bank accounts of the trustees, off shore of course too.
 
i highly doubt the mou loa will be extended company wants it gone so if your on a loa better show up for work or 72 hours the date it expires or your out of a job =voluntary quit
 
To switch over to the cspf for a moment, saw an article today but just glanced over it quick(y'all know how busy I am), But the jest of it was that the UPS pension that replaced the cs one is a bit over a Billion $s underfunded(for 48,000+employees)and the benefits basicly sucked to the old plan, imagine that.
Am I right in my understanding that the fund didn't have to let UPS pull out, its whatever is best for the fund? Just imho, I'd check all the bank accounts of the trustees, off shore of course too.


I see C-L posted the article in the merger thread a couple hours ago.
 
Local B A won't call back

Put in 2 phone call already about this. Local BA hasn't called back in 2 days. If he does call back, I will post whatever he tells me. Local 455 in Denver. Anyone else having this trouble? I just moved back from Indy 2 months ago. Got a job, but it ain't much. Hope the B A calls back so I can ask him a bunch of stuff, and get some insight as to the job market around here. Hoping to get back into the WTPF if at all possible.
 
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To switch over to the cspf for a moment, saw an article today but just glanced over it quick(y'all know how busy I am), But the jest of it was that the UPS pension that replaced the cs one is a bit over a Billion $s underfunded(for 48,000+employees)and the benefits basicly sucked to the old plan, imagine that.
Am I right in my understanding that the fund didn't have to let UPS pull out, its whatever is best for the fund? Just imho, I'd check all the bank accounts of the trustees, off shore of course too.

UPS Full-Time Pension Plan only 60% Funded | Teamsters for a Democratic Union
 
Got a call from Bill D. at 455 this morning. He confirmed that the company payment of 25% WILL be diverted to the 401k until 2015. Not very encouraging for those of us that are effected by this.
 
Good Luck with that Papa....he won't return my calls either!
Imagine that. Bill D. not returning phone calls. Hint: you can probably find him with John O. in the nearest managers office with the door closed recommending to the company on how unhappy they both are on how lenient the company is on disciplining members. Just ask some of the poor indivuadles that have been thrown under the bus by these two. In fact everyone that has been in their sights knows what a muffler , drive shaft etc looks like.
 
Got a call from Bill D. at 455 this morning. He confirmed that the company payment of 25% WILL be diverted to the 401k until 2015. Not very encouraging for those of us that are effected by this.

If you look at it strictly from an investment standpoint you are better off having the money in your hand. What would that 25% equal to in the long run? Nothing.
 
If you look at it strictly from an investment standpoint you are better off having the money in your hand. What would that 25% equal to in the long run? Nothing.

From an investment standpoint, $1.75 tax deferred in account which you choose the investment with a potential upside in interest and dividends is more than "nothing."
Of course, I would prefer to have the money in my pension and have years of service credit, but, this is better than what we have gotten in the last two years....(pension-wise)

That, would be nothing...
 
Got a call from Bill D. at 455 this morning. He confirmed that the company payment of 25% WILL be diverted to the 401k until 2015. Not very encouraging for those of us that are effected by this.
So if the 25% won't be going into the fund, doesn't that mean that money will still be coming out of the fund to pay the current retirees? Yet no money is going in to the fund to HELP offset the outbound flow of money. Sounds to me like the Western Fund will continue to slip towards the negative side. Less money going into the fund and the same current amount going out....equals shortfall of funds.
 
So if the 25% won't be going into the fund, doesn't that mean that money will still be coming out of the fund to pay the current retirees? Yet no money is going in to the fund to HELP offset the outbound flow of money. Sounds to me like the Western Fund will continue to slip towards the negative side. Less money going into the fund and the same current amount going out....equals shortfall of funds.
Sounds like a logical statement to me.
 
So if the 25% won't be going into the fund, doesn't that mean that money will still be coming out of the fund to pay the current retirees? Yet no money is going in to the fund to HELP offset the outbound flow of money. Sounds to me like the Western Fund will continue to slip towards the negative side. Less money going into the fund and the same current amount going out....equals shortfall of funds.

The Western Fund has not received money from YRC Teamsters in 2 years and YRC is such a very small part of the fund that the fund doesn't want to accept less then the full amount (its not fair to the Teamsters in the fund;should at least get credit for the year)not to mention less teamsters will be retiring from that fund.
 
From an investment standpoint, $1.75 tax deferred in account which you choose the investment with a potential upside in interest and dividends is more than "nothing."
Of course, I would prefer to have the money in my pension and have years of service credit, but, this is better than what we have gotten in the last two years....(pension-wise)

That, would be nothing...
Maybe you misunderstood what I was saying? I was trying to say that the money put into the pension fund is a crappy investment. You might put a dollar in and get a dollar out if you are lucky. The 401k has a great upside. I've made 20% this year. If the 401k went into YRC stock. This would be a whole different argument.
 
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