In case you haven't heard ABF did get a break in the pension at our expense. The 8% annual increase has been discontinued and they did not have to pay the 65 cents an hour into the funds. This saves ABF roughly 15 to 18 MILLION A YEAR. They have taken relief from the pension funds and that is that. YOUR BROTHER ALWAYS!
I wasn't aware of that until recently, but I'm not really talking about ceasing increases to the pension contributions, I'm talking about solving the pension issues... the legislation that is in process to reduce the burden on remaining companies in multi-employer funds.
If that 8% contribution increase does save ABF 15 to 18 million a year, and they still BARELY made a profit last quarter... that doesn't make me confident with the future for the company. I hope some mutually beneficial terms can be reached on this next contract. ABF needs to save $ big time. Employees need to make a decent wage and have fair benefits. I think a big chunk of it is figuring out the pension in a way that makes sense and doesn't burden anyone unfairly.