Central States Fund: $15.45 Billion

Discussion in 'YRC Freight' started by Freightmaster1, Aug 3, 2017.

  1. wongway

    wongway -15% Pay , Never forget

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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 ??
     
  2. SAC75

    SAC75 Well-Known Member

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    ABF pays 342 a week in central states. That's 848,954 after 30 years at 3%
     
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  3. Elwood

    Elwood Question Authority

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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.
     
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  4. SAC75

    SAC75 Well-Known Member

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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/
     
    Last edited: Aug 5, 2017
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  5. jimmy g

    jimmy g Kook AD-FREE USER

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    According to the Consent Decree, they were supposed to be doing so. They could fire the managing firm at any time.
     
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  6. Freightmaster1

    Freightmaster1 Well-Known Member

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    [​IMG]
    "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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  7. Kennesaw Kid

    Kennesaw Kid Super Moderator Staff Member

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    Yeah?.....well big deal, TYSON also told you EQUAL SACRIFICE too....hows that working out for ya?
     
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  8. Freightmaster1

    Freightmaster1 Well-Known Member

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    Howdy Brothers and Sisters! It's good to see my name still being tossed around on truckingboards.com! Thanks!
    :fingure:
     
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  9. falconfan

    falconfan Well-Known Member

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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.
     
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  10. falconfan

    falconfan Well-Known Member

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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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  11. stpinindy

    stpinindy Active Member

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    Am i the only one that tries to sell when stocks are up and buy when stocks are down?
     
  12. Elwood

    Elwood Question Authority

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    I believe Mr. Buffett follows your strategy.
     
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