Yellow | 707 pension - Pension cut letters have been sent out

[Deleted member 5115]

Interesting, two different plans, maybe different problems, maybe not. Looks like everyone got 40% cuts in 707. Maybe not. In central states the cuts are all over the place. What the heck? Why couldn't we all get the same percentage cuts? Oh I know, Ken Feinburg said it is the LAWWWWWWWWWWWWWWWWWWW. He cannot recommend a change to the lawwwwwwwww. But we are all free to tell him how to change the plan without changing the law. What's his job? Am I off topic or on topic?

On topic and on target. It just sounds like one big bungle.

 

[ESP]

A guy I worked with at Preston, then Yellow, compared cuts with me. We were hired one week apart at Preston hired same day at Yellow. I resigned in Feb 2009, a week before YRC merged and began missing payments. He resigned 6 months later. We both had 21 years paid in. I'm 61, he's 59. Mine cut to 1250. His cut to 759. Makes no sense....

G. I think I know the answer, you are in the group of terminated vested, with more than 20 yrs but not yet retired with a certain percentage of cut. He will be in the group of Mostly Orphaned and a small part of the group that YRC is in which is 50% cut. Strange world, but the lawwww is the lawwww. His cuts would be greater because and I am guessing here, that he is now retired and his pension is not large enough to be protected to the $1070.00 plus the 10%. Which is a killer on the outcome. I could be wrong but never am. That is a strange comparison there. If he is not retired yet and still working in the union somewhere than that was a formality letter of which he can then add to the total of his retirement dollars by working longer. Did I confuse anyone except me?

 

[BIG R GUY]

G. I think I know the answer, you are in the group of terminated vested, with more than 20 yrs but not yet retired with a certain percentage of cut. He will be in the group of Mostly Orphaned and a small part of the group that YRC is in which is 50% cut. Strange world, but the lawwww is the lawwww. His cuts would be greater because and I am guessing here, that he is now retired and his pension is not large enough to be protected to the $1070.00 plus the 10%. Which is a killer on the outcome. I could be wrong but never am. That is a strange comparison there. If he is not retired yet and still working in the union somewhere than that was a formality letter of which he can then add to the total of his retirement dollars by working longer. Did I confuse anyone except me?

HUH ????

 

[jimmy g]

G. I think I know the answer, you are in the group of terminated vested, with more than 20 yrs but not yet retired with a certain percentage of cut. He will be in the group of Mostly Orphaned and a small part of the group that YRC is in which is 50% cut. Strange world, but the lawwww is the lawwww. His cuts would be greater because and I am guessing here, that he is now retired and his pension is not large enough to be protected to the $1070.00 plus the 10%. Which is a killer on the outcome. I could be wrong but never am. That is a strange comparison there. If he is not retired yet and still working in the union somewhere than that was a formality letter of which he can then add to the total of his retirement dollars by working longer. Did I confuse anyone except me?

He should be like me. Vested, active- because we both have more than 20 years. He's at a non u, should be vested active- probably vested terminated. I think CSPF is wrong. I told him to check into appealing. Got nothing to lose.

 

[ESP]

JImmy, Jimmy, Jimmy, How could you possibly think CSPF could be wrong?