Central States Fund: $15.45 Billion

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

  1. wongway

    wongway -15% Pay & Broke Pension Fund

    Messages:
    3,439
    Likes Received:
    2,710
    Trophy Points:
    113
    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

    Messages:
    1,915
    Likes Received:
    1,649
    Trophy Points:
    113
    ABF pays 342 a week in central states. That's 848,954 after 30 years at 3%
     
    the5tolls, wongway and aztec warrior like this.
  3. Elwood

    Elwood Question Authority

    Messages:
    3,259
    Likes Received:
    2,660
    Trophy Points:
    113
    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.
     
    the5tolls, falconfan, SAC75 and 2 others like this.
  4. SAC75

    SAC75 Well-Known Member

    Messages:
    1,915
    Likes Received:
    1,649
    Trophy Points:
    113
    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
    wongway likes this.
  5. jimmy g

    jimmy g Kook

    Messages:
    16,366
    Likes Received:
    8,522
    Trophy Points:
    113
    According to the Consent Decree, they were supposed to be doing so. They could fire the managing firm at any time.
     
    BIG R GUY, SAC75 and aztec warrior like this.
  6. Freightmaster1

    Freightmaster1 Well-Known Member

    Messages:
    5,163
    Likes Received:
    3,042
    Trophy Points:
    113
    [​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.
     
    maz123, Big Dave, wongway and 2 others like this.
  7. Kennesaw Kid

    Kennesaw Kid Super Moderator Staff Member

    Messages:
    5,264
    Likes Received:
    2,313
    Trophy Points:
    113
    Yeah?.....well big deal, TYSON also told you EQUAL SACRIFICE too....hows that working out for ya?
     
    the5tolls and wongway like this.
  8. Freightmaster1

    Freightmaster1 Well-Known Member

    Messages:
    5,163
    Likes Received:
    3,042
    Trophy Points:
    113
    [​IMG]
    Howdy Brothers and Sisters! It's good to see my name still being tossed around on truckingboards.com! Thanks!
    :fingure:
     
    wongway and SAC75 like this.
  9. falconfan

    falconfan Well-Known Member

    Messages:
    2,442
    Likes Received:
    3,010
    Trophy Points:
    113
    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.
     
    Wrench97 likes this.
  10. falconfan

    falconfan Well-Known Member

    Messages:
    2,442
    Likes Received:
    3,010
    Trophy Points:
    113
    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.
     
    SAC75, jimmy g and Triplex like this.
  11. stpinindy

    stpinindy Active Member

    Messages:
    739
    Likes Received:
    26
    Trophy Points:
    28
    Am i the only one that tries to sell when stocks are up and buy when stocks are down?
     
  12. Elwood

    Elwood Question Authority

    Messages:
    3,259
    Likes Received:
    2,660
    Trophy Points:
    113
    I believe Mr. Buffett follows your strategy.
     
    stpinindy likes this.

Share This Page