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Yellow | Central States Fund: $15.45 Billion

Triplex said:
Wong, just to give an example: If you put $50 per week into an account paying 3% interest, after 30 years you'd have about $126,000 in the account. That amount left in that 3% account would get you monthly payments of about $700 for 20 years before it's gone.
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Thanks for your math and so if they was putting in the whole weekly amount of $250.00 , maybe wrong on this so correct me on the amount , into a private 401-K account we would be sitting pretty good now right ??
 
SAC75 said:
ABF pays 342 a week in central states. That's 848,954 after 30 years at 3%
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Your figures are correct, but your total is incorrect.
Because you are paying for so many orphans, the total is inflated.
As of the last contribution figures by YRC into Western States @ somewhere between $5.75 and $5.80/hr x 40hrs/week = $232/wk.
Negotiating a 401-k is much cheaper for a company, because most do not contribute the full amount for matching.
$342/wk = $8.55/hr. No company would pay that much into a 401-k.
And Federal Law has a cap, restricting excessive contributions.

A negotiated figure of $3/hr x 40 hrs, or $120/wk, if matched, is a more reasonable figure to seek, if no more orphans are to be supported by the excessive contribution criteria.

It is a Catch-22.

btw, $342/week to support a fiasco, is insane.
 
Elwood said:
Your figures are correct, but your total is incorrect.
Because you are paying for so many orphans, the total is inflated.
As of the last contribution figures by YRC into Western States @ somewhere between $5.75 and $5.80/hr x 40hrs/week = $232/wk.
Negotiating a 401-k is much cheaper for a company, because most do not contribute the full amount for matching.
$342/wk = $8.55/hr. No company would pay that much into a 401-k.
And Federal Law has a cap, restricting excessive contributions.

A negotiated figure of $3/hr x 40 hrs, or $120/wk, if matched, is a more reasonable figure to seek, if no more orphans are to be supported by the excessive contribution criteria.

It is a Catch-22.

btw, $342/week to support a fiasco, is insane.
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I wasn't talking about a pension. A 401k you can put $18000 a year into. Going off of Triplex's math/post. With compound interest it would be $848,954 in 30 years. Just a what if scenario is all.

https://www.goodfinancialcents.com/401k-contribution-limits/
 
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Elwood said:
Your figures are correct, but your total is incorrect.
Because you are paying for so many orphans, the total is inflated.
As of the last contribution figures by YRC into Western States @ somewhere between $5.75 and $5.80/hr x 40hrs/week = $232/wk.
Negotiating a 401-k is much cheaper for a company, because most do not contribute the full amount for matching.
$342/wk = $8.55/hr. No company would pay that much into a 401-k.
And Federal Law has a cap, restricting excessive contributions.

A negotiated figure of $3/hr x 40 hrs, or $120/wk, if matched, is a more reasonable figure to seek, if no more orphans are to be supported by the excessive contribution criteria.

It is a Catch-22.

btw, $342/week to support a fiasco, is insane.
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EbAHgfi.jpg

"I'd like to thank "Elwood" on truckingboards.com for reminding us of the $342 a week "insanity" as we start negotiating our next contract at ABF Freight!"...Judy McReynolds ArcBest CEO.
 
Shutter Down said:
If they would of just let Yrc go out of business we would of been lock in the old plan and no cuts no age restrictions that right from Tyson. I come in to reep havoc even the old hostlers don't even pretrip for drivers anymore the just walk around for the camera and put it on the line after a hour and half hook. It's time we do the screwing because we can never screw them like they screwed us. If you want to come in and work more power to you. You never get back what you give up never never ever.
And for you Yrc-ATM I am not doing anything productive and they can't make me. I have seen fighting, sleeping and stealing time and there still right beside me every day. My eyes are not like they use to be and I just can't seem to fine them skid runners but I can hear the cracking and bending of freight music to my ears.

#dontgetmadgeteven
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Yeah?.....well big deal, TYSON also told you EQUAL SACRIFICE too....hows that working out for ya?
 
Shutter Down said:
If they would of just let Yrc go out of business we would of been lock in the old plan and no cuts no age restrictions that right from Tyson. I come in to reep havoc even the old hostlers don't even pretrip for drivers anymore the just walk around for the camera and put it on the line after a hour and half hook. It's time we do the screwing because we can never screw them like they screwed us. If you want to come in and work more power to you. You never get back what you give up never never ever.
And for you Yrc-ATM I am not doing anything productive and they can't make me. I have seen fighting, sleeping and stealing time and there still right beside me every day. My eyes are not like they use to be and I just can't seem to fine them skid runners but I can hear the cracking and bending of freight music to my ears.

#dontgetmadgeteven
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You aren't even a man.You are a complete sorry ass and not worthy of the job GOD provided you.You were a piece of shi t before the cuts,they didn't make you sorry it's just that now you have an excuse.
 
Freightmaster1 said:
EbAHgfi.jpg

"I'd like to thank "Elwood" on truckingboards.com for reminding us of the $342 a week "insanity" as we start negotiating our next contract at ABF Freight!"...Judy McReynolds ArcBest CEO.
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Do you think it's fair for ABF to be paying for my pension from working atC.F? Do you think it's fair that Yrcw pays for it.Do you think it's fair that the both have the burden of paying a portion of the pensions for hundreds of union lines that bankrupted?
It is insanity and it's the reason so many union lines have closed.They simply couldn't compete.
Maybe it's time we fixed the Ponzi scheme and offered the current and next generation of employees a little something they can have instead of all of our contributions going towards people that are already retired and doing absolutely nothing for us.
The Ponzi has come to the end of the road and maybe,just maybe if we fixed it other truck lines might want to be a part of it.No one wants to be a part of this retirement plan and never will.
 
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