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XPO | 401k Match

icuicp said:
Do dockworkers get access to a 401k Plan? If so , how much of a match does the company give them?
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I'm a dockworker. I get 2% of my gross pay contributed quarterly. As far as overtime goes I've been here five years so I still get overtime after 8. Any dockworkers hired after the new pay scale took effect (3 yrs ago) don't get overtime until after 50 hours. There are only about 50 of us in the whole company I'm told who still get overtime after 8. It was also changed at the first of the year that anyone hired on going forward starts at 12 days of PTO instead of 15. They can bank less and max out at 25 instead of 35 days.
 
micshol said:
I'm a dockworker. I get 2% of my gross pay contributed quarterly. As far as overtime goes I've been here five years so I still get overtime after 8. Any dockworkers hired after the new pay scale took effect (3 yrs ago) don't get overtime until after 50 hours. There are only about 50 of us in the whole company I'm told who still get overtime after 8. It was also changed at the first of the year that anyone hired on going forward starts at 12 days of PTO instead of 15. They can bank less and max out at 25 instead of 35 days.
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Thank you for the information.
 
micshol said:
I'm a dockworker. I get 2% of my gross pay contributed quarterly. As far as overtime goes I've been here five years so I still get overtime after 8. Any dockworkers hired after the new pay scale took effect (3 yrs ago) don't get overtime until after 50 hours. There are only about 50 of us in the whole company I'm told who still get overtime after 8. It was also changed at the first of the year that anyone hired on going forward starts at 12 days of PTO instead of 15. They can bank less and max out at 25 instead of 35 days.
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You would think that they would be trying to hire more dockhands. They groom these people to be management and drivers. Why reduce the compensation for them ?
 
micshol said:
I'm a dockworker. I get 2% of my gross pay contributed quarterly. As far as overtime goes I've been here five years so I still get overtime after 8. Any dockworkers hired after the new pay scale took effect (3 yrs ago) don't get overtime until after 50 hours. There are only about 50 of us in the whole company I'm told who still get overtime after 8. It was also changed at the first of the year that anyone hired on going forward starts at 12 days of PTO instead of 15. They can bank less and max out at 25 instead of 35 days.
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I donot know how they get away with not paying overtime over 40 to any employee that does not fall under the truck driver exemption ????
 
trucknfool said:
I donot know how they get away with not paying overtime over 40 to any employee that does not fall under the truck driver exemption ????
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Section 13(b)(1) of the FLSA provides an overtime exemption for employees who are within the authority of the Secretary of Transportation to establish qualifications and maximum hours of service pursuant to Section 204 of the Motor Carrier Act of 1935, except those employees covered by the small vehicle exception described below.

Thus, the 13(b)(1) overtime exemption applies to employees who are:

  1. Employed by a motor carrier or motor private carrier, as defined in 49 U.S.C. Section 13102 (see Employer below);
  2. Drivers, driver’s helpers, loaders, or mechanics whose duties affect the safety of operation of motor vehicles in transportation on public highways in interstate or foreign commerce (see Employee Duties below); and
  3. Not covered by the small vehicle exception (see Small Vehicle Exception below).
 
I could be wrong, but I thought for new hires there was some catch that you didn't get the 2% the first year, or 401k didn't kick in till after so many days, or a year.

I learned my lesson in the tech bubble. Came out of that licking my wounds with some of my own personal investments.

Even though I have different Investments hearing that my pension might not be there was rather alarming. Maybe too many people get lulled into the companies retirement programs, 401K, IRA and don't look beyond it.

Past performance does not guarantee future results.
 
highspeeds said:
You would think that they would be trying to hire more dockhands. They groom these people to be management and drivers. Why reduce the compensation for them ?
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I wasn't clear. Any full time hourly employee (including drivers) hired after 1/1/17 starts under new pto rules. As far as overtime they claim its common in the industry. I personally think they will have to reduce that policy eventually. We already cant retain quality people.
 
micshol said:
I wasn't clear. Any full time hourly employee (including drivers) hired after 1/1/17 starts under new pto rules. As far as overtime they claim its common in the industry. I personally think they will have to reduce that policy eventually. We already cant retain quality people.
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I can't help sometimes but thinking the strategy now is to just have bodies in place. Don't get me wrong if they can get a quality person while trolling the bottom it's a bonus. People just aren't gonna stay. There is no directional leadership or engagement it's like an empty shell.
They have had the time now to figure this out. To top it off their looking to buy more. I think by fall we will here of a major purchase.
 
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sucker666 said:
Section 13(b)(1) of the FLSA provides an overtime exemption for employees who are within the authority of the Secretary of Transportation to establish qualifications and maximum hours of service pursuant to Section 204 of the Motor Carrier Act of 1935, except those employees covered by the small vehicle exception described below.

Thus, the 13(b)(1) overtime exemption applies to employees who are:

  1. Employed by a motor carrier or motor private carrier, as defined in 49 U.S.C. Section 13102 (see Employer below);
  2. Drivers, driver’s helpers, loaders, or mechanics whose duties affect the safety of operation of motor vehicles in transportation on public highways in interstate or foreign commerce (see Employee Duties below); and
  3. Not covered by the small vehicle exception (see Small Vehicle Exception below).
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Well, now. There's an outdated piece of legislation!!
 
guitarman1 said:
Thats fair, Take away from the people that sacrificed by saving for their retirement...
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Same thing for paying for college. I saved some and have no debt, so I got no financial aid. I don't, however, have enough for a private education, or even 4 years at a state school. If you don't have a pot to **** in or a window to throw it out of, it's a free ride all the way! I should have hid what I do have better.
 
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