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Yellow | U.S. Treasury Dept. Investigation At Kansas City Terminal

you can thank the IBT international and negotiating committees from along time ago till the present.......... they new over 30 years ago that every contract they negotiated that the increase to pension wouldn't cover the pension amounts 30 years ago but they keep uping the amount you would get for 30 years of service knowing dam well they couldn't pay it down the road.......all they where doing was helping them to keep there jobs so you would keep voting them in..........

.because any smart actuary could have projected 30 years ago that membership was in decline and every decade it would get even worse....if the IBT was smart they would have capped 30 years of service at 2000. 00 along time ago and then when they got the increase in pension payments from the employer they would have a lot more money in the account to pay out a lot longer then it is now and maybe did a cost of living increase possibly ....

less paying in and more taking out equals just like they have been saying for a long , long time social security would go broke under the same formula ............................. simple............ less paying in and more taking out equals disaster if not managed correctly from the amounts they pay out to retirees, the money given to way to many people to invest and illegal use of the money etc.

example some guys ran for office in 705 years back and they wanted to give 4000.oo for 30 years and free medical for life lol 705s fund which is theres only (not in central states fund)....... would be broke by now or very soon and no one would get a pension check or have insurance get my drift
 
Triplex said:
Now you've done it. Bigtruk wanted to watch the game but you've probably stirred him up with that post!
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What did I do? I haven't mentioned nothing about tax deductions parallel to the 15% paycut.At least for a long while now.
However with the company changing how they are going to show or not show the 15% equity benefits wages union on our check remittance is a cause for concern.Now I know others are in the know and have told me.That in past MOUs.The Union and the company had changed the language concerning equity and stock warrants.Unbeknownst to alot of us here that took paycuts for equity in return.As long as we are sacraficing in pay concessions.We were supposed to get equity in lieu of said concessions.I haven't read in any MOU.That we forfeited the rights to our stock warrants.Those warrants were supposed to be awarded every quarter.Based on your gross wages.Am I missing something or was that the way it was sold to the membership for concessions?
 
bigtruk_us said:
What did I do? I haven't mentioned nothing about tax deductions parallel to the 15% paycut.At least for a long while now.
However with the company changing how they are going to show or not show the 15% equity benefits wages union on our check remittance is a cause for concern.Now I know others are in the know and have told me.That in past MOUs.The Union and the company had changed the language concerning equity and stock warrants.Unbeknownst to alot of us here that took paycuts for equity in return.As long as we are sacraficing in pay concessions.We were supposed to get equity in lieu of said concessions.I haven't read in any MOU.That we forfeited the rights to our stock warrants.Those warrants were supposed to be awarded every quarter.Based on your gross wages.Am I missing something or was that the way it was sold to the membership for concessions?
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Had nothing to do with wages. Was all based on stock price. Last I knew the price would have to reach nearly 60 dollars for us to just break even. And that was probably 2 years ago$$$$
 
BIG R GUY said:
Had nothing to do with wages. Was all based on stock price. Last I knew the price would have to reach nearly 60 dollars for us to just break even. And that was probably 2 years ago$$$$
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That's what had heard as well (60.00 a share).Since the company took it upon them self to change how they show the equity in our checks.Does that mean they are not honoring that language in our MOU that still exist??
 
bigtruk_us said:
That's what had heard as well (60.00 a share).Since the company took it upon them self to change how they show the equity in our checks.Does that mean they are not honoring that language in our MOU that still exist??
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Bag? Correct me if I am wrong, but think last 2 stock dillusions wiped that out!!!
 
BIG R GUY said:
Bag? Correct me if I am wrong, but think last 2 stock dillusions wiped that out!!!
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It might have wiped out what we had at that time (two reverse stock splits) but it shouldn't have ended our agreed upon deal.Quarterly awarded stock warrants.Then they kept showing the equity benefits wages union in the remittance part of our checks.
 
See if you get "equity in reality you are supposed to be gaining some sort of financial asset in the future.That is an accounting term
 
albag said:
The distribution of options was eliminated after the first MOU. There were no dispersements after that.
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Well there shouldn't have been an equity benefits wages union description in the remittance part of our checks.If what you said was correct.You take away one element in regards to stock warrants.Then you have to eliminate the other (equity benefits union wages) as well.Its all in the language
 
bigtruk_us said:
Well there shouldn't have been an equity benefits wages union description in the remittance part of our checks.If what you said was correct.You take away one element in regards to stock warrants.Then you have to eliminate the other (equity benefits union wages) as well.Its all in the language
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Speaking of language; it appears you didn't read what you were voting on...
 
sthomp2000 said:
U.S. Treasury Dept. Investigation At Kansas City Terminal over employees taking a tax write off for the 15% wage cut. Big fines and possibility of incarceration could be coming. One person in particular has been deemed as the ringleader and refused Treasury Dept. access to his home. Also, the IRS is getting involved in this same case with likely fines, penalties, and interest. This write-off is illegal folks. I know it's tax time and I'm sure this investigation is going to spread like wildfire throughout the country, please don't get caught up in it!
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sthomp2000 said:
U.S. Treasury Dept. Investigation At Kansas City Terminal over employees taking a tax write off for the 15% wage cut. Big fines and possibility of incarceration could be coming. One person in particular has been deemed as the ringleader and refused Treasury Dept. access to his home. Also, the IRS is getting involved in this same case with likely fines, penalties, and interest. This write-off is illegal folks. I know it's tax time and I'm sure this investigation is going to spread like wildfire throughout the country, please don't get caught up in it!
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So far there are 37 people being investigated in Kansas City and this will be ongoing for 12 to 24 months. You can just imagine how much in penalties, interest, and fines the government will rack up against these people. That 15% pay cut won't be anything when the IRS gets done with them.:violin:
 
sthomp2000 said:
So far there are 37 people being investigated in Kansas City and this will be ongoing for 12 to 24 months. You can just imagine how much in penalties, interest, and fines the government will rack up against these people. That 15% pay cut won't be anything when the IRS gets done with them.:violin:
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Maybe H and R Block can help them ???
 
I applied for a home refi after the 15% and I was turned down...it counted against me. My lawyer filed an appeal and it came back that as a union member I willingly gave up wages earned. At tax time, I was told that I could not take it as a write off. When the Government gets involved....you loose.! How much did you make...send it in. I put the house up for short sale in was in contract and sold in 30 days. It was time to walk away...after I paid the taxes, penalties etc.you have to pick your battles and this one you can not win.
 
YOU CAN'T DEDUCT WHAT YOU WERE NEVER PAID...... Concessions are a part of your "original stated hourly or salary" wage that you have given up.. If you were involved in a RIF(Reduction In Force) at your work, could you go back and claim the wages you "would have made"? No...
 
sthomp2000 said:
So far there are 37 people being investigated in Kansas City and this will be ongoing for 12 to 24 months. You can just imagine how much in penalties, interest, and fines the government will rack up against these people. That 15% pay cut won't be anything when the IRS gets done with them.:violin:
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Can anyone else at YRC KC confirm this??.....KK
 
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