ABF Negotiations Open

Discussion in 'ABF Freight System' started by Freightmaster1, Jan 10, 2018.

  1. TurnCoat

    TurnCoat The IBT--Looking out for YOU...and...THEM!

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    Well....Yellow paid 20 yrs in on me, YRC paid about 3 and 1/2 and then decided they would quit, so I got a chance to quit them and go to ABF. I'm not so sure about my experience, but for my age I am darn good looking....I'm told often, so I'm convinced that is what got me hired. Any employee regardless of age has to be vested to draw and will draw according to the years of service. I will have worked 14 years with ABF before I retire with over 37 yrs paid in, so I think I've earned mine, and I have worked with many of these old guys and they ARE experienced and will work without whinning. Not all, but most of these youngsters they hire act like somebody owes them something or some kind of special respect 'cause they have a Teamster hat or t-shirt on, and brag about how much they can hide from the man and get over on the Company and that, in my humble opinion is what contributes to the problem more than some old guy that busts his ass!
     
    Last edited: Jan 16, 2018
  2. Rollin62

    Rollin62 Well-Known Member

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    In all reality, we should have the option where we want our contributions to go. As a new employee , I wouldn't want a dime contributed on my behalf to this broke pension fund. Just sayin
     
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  3. Homesick

    Homesick Do I really exist if you've never seen me?

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    Turncoat, I don't think you understand what I'm trying to say or I didn't express my thoughts plainly. The problem with the pension is one of assets. There are not enough assets to generate the rate of return needed to pay the amount being sent to the current number of retirees. Through compounding the amount of assets would increase exponentially if the amount was not drawn down so fast. Does my post make more sense now?
    And FYI your putting down your fellow employees is not solidarity in this time of contract rennual.
     
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  4. Homesick

    Homesick Do I really exist if you've never seen me?

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    Rolling, I agree with you. I would like to have the option of where my contributions should go. I want my contributions give to me. I would put the money in an IRA or invest it or take a vacation. But if my only option is pension or 401K......then pension without reservation. It is financially better for all involved.
     
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  5. grovercxl

    grovercxl HUH?

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    At any time, people who don't want to give "a fair day's work for a fair day's pay" are the type who give the union and by extension, union members (us) a bad name. Calling that kind of behavior out is not a bad thing any time. If someone wants to screw the man they should stay home and draw welfare and let those of us who are willing to do the job take care of it.
     
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  6. Rollin62

    Rollin62 Well-Known Member

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    At some point, you have to take out the trash or the whole house will begin to stink. You can't keep spraying febreeze on the problem
     
  7. Homesick

    Homesick Do I really exist if you've never seen me?

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    Could you please define a "fair days work?" I define a fair days pay as the market value of my work or, to be precise, the maximum amount someone is willing to pay. So what is a fair days work if you make $20 an hour and another employee is making $40 an hour for the same work?
     
  8. grovercxl

    grovercxl HUH?

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    I am not sure what you are talking about with the $20 vs $40 an hour thing. All I was trying to say was that we (through the union) agreed to the particulars of the contract, and how we are compensated is set out in that contract. A fair day's work to me means being able to look in the mirror at night and say I did a good job today. Not for the company's sake, but because that is how I was raised. I just can't understand someone who would want to say "Boy, I sure got over on the company today!" and be happy about it.
     
  9. Elwood

    Elwood Question Authority

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    My time is more valuable than any wage paid. If my wage were doubled, my ‘time’ is still worth so much more. I do my ‘work’ with pride, whether I am being paid a wage or volunteering. The most rewarding jobs, therefore the most valuable investment of my time, have been for minimum wage or less. If time is not well spent, then it is a poor investment.
     
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  10. TurnCoat

    TurnCoat The IBT--Looking out for YOU...and...THEM!

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    I believe if this pension legislation gets passed they will close the pension to new hires and employees that are not vested will be given options. Now that is pure speculation, but they're going to have to fix the math problem somehow.
     
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  11. canaryinthemine

    canaryinthemine Retirement....The Job I Was Born To Have!

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    Careful what you’re telling people , Rollin.........Not all the funds are broke, nor are all the funds designated in the “red zone” in danger of being taken over by Pension Benefit Guarantee Insurance.

    And,.......if there’s a legislative “”fix” in the works,..........even a reduced defined-benefit pension is still, in many respects,......better than a defined-contribution 401(k)- style “pension”........especially if Wall Street keeps dropping the annuity rate.

    The defined-benefit pension..........the same type our esteemed legislators retire from..........was the Crown Jewel of the NMFA for decades. The reason many guys put up with crabby dispatchers and imbecilic managers.........and it was the main reason why, for many, many years,......there was very little turnover of employees at Union jobs.

    If,........they can come up with a legislative “fix” for the 50 or so pension funds in trouble..........out of the roughly 150 pension funds associated with ABF amd the NMFA,..........the defined-benefit pension funds may very well become the prime reason to get hired at a Union carrier once again......

    Especially when people start realizing the almost unobtainable amount of money needed in a 401(k)- style “pension” annuity to get a reasonable monthly check............and Wall Street’s unchecked ability to “move the goalposts” by having no oversight on how low they can make annuity rates.
     
  12. 6PakAbs

    6PakAbs Well-Known Member

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    wow..that much time and you left YRC to come to ABF? You must be at a very small terminal that the company will probably shutter and run sporadically from a larger termina? The good looking part, well, I will leave that alone
     
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  13. vongrimmenstein

    vongrimmenstein Well-Known Member

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    Never happen. Someone has to still fund the liability. The cost of working under a CBA. von.
     
  14. troubleman84

    troubleman84 Well-Known Member

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    Divide and conquer
     
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  15. TurnCoat

    TurnCoat The IBT--Looking out for YOU...and...THEM!

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    Maybe, and if we get another contract and that happens I may get a chance to follow the work, who knows, I may be coming to a terminal near you....:15:
     
  16. TurnCoat

    TurnCoat The IBT--Looking out for YOU...and...THEM!

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    Never say never, when the gubberment gets involved strange things happen
     
  17. TurnCoat

    TurnCoat The IBT--Looking out for YOU...and...THEM!

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    Thank you! I just gave an opinion on what I would vote for or against. Then I got squarely kicked in the nuts for my opinion. I've worked with a lot of good men, young and old, and some sorry ones too. I'm the guy that's going to help you anyway I can, however, if you're a slacker I'm probably not your best friend. I believe in solidarity, but I understand the economic environment we're working in and reasonable expectations. Hopefully we get something decent to vote on. ABF tries to hire the best, regardless of age, but a driver with 20+ yr. track record is probably a safe bet, besides age discrimination is out of bounds anyway, pension funds aside. What if they decided they would only hire people with 10+ yrs. experience? Young drivers would be under a glass ceiling....hmmm! Think about it.....
     
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  18. TurnCoat

    TurnCoat The IBT--Looking out for YOU...and...THEM!

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    That could become a reality, but it's going to be some sort of matching contributions. You're going to have to make your investment first, they're not going to write you another check just because you opt out of the pension funds. We'll see once this legislation gets passed, and I feel like it will with this new administration.
     
  19. Puff Driver

    Puff Driver Active Member

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    The S&P is up 28% since Trump was sworn in, if you invested your entire 401k in the S&P over the past few decades you'd be much better off than any pension.. and you control the money........

    Some teamster plans have 2 members drawing benefits for every 1 putting $$$ in.. For others it is far worse... It is not sustainable...

    But you seem like a smart guy........
     
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  20. TurnCoat

    TurnCoat The IBT--Looking out for YOU...and...THEM!

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    In all reality, THEY are going to contribute to the pension fund on YOUR behalf, but the question is....are YOU going to save/invest something on YOUR behalf to supplement your pension if needed? If THEY (through legislation) can offer you a different plan, THEY are only going to match what YOU invest, probably up to 6 percent of your pay.
     

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