Freightmaster1
TB Legend
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Yellow | Central States Pension Fund: $13.2 Billion
- Thread starter Freightmaster1
- Start date
Eleven years ago it was about $24 billion. Should have cut it in half three years ago at $16 billion. If there's ever a bailout, it'll be to the PBGC, not to the CSPF. Change the Re-Employment Rules, Stat!!!
Dump the orphans on the PBGC! UPS should have never been allowed to leave the fund where did the $6 Billion go? What's the point of my pension contribution going into these funds? My local told me that I will only get $7 dollars per year with 25% 2009 contribution $216 dollars after 30yrs if YRC can't pay full rate I want my contribution to go to a IRA or 401k.
Freightmaster1
TB Legend
- Credits
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Current YRC Freight and Holland contributions to CSPF are....
Pension (Central States Pension Class 18)
$106.55 per week
$5540.60 per year
On a 1% accrual that's $55.41 a year accrued. If no increases it would be a $1662 a month pension after 30 years.
Current ABF Freight contributions to CSPF are...
Pension (Central States Pension Class 18)
$342.00 per week
$17,784.00 per year
On a 1% accrual that's $177.84 a year accrued.
If no increases it would be a $5335 a month pension after 30 years.
Pension (Central States Pension Class 18)
$106.55 per week
$5540.60 per year
On a 1% accrual that's $55.41 a year accrued. If no increases it would be a $1662 a month pension after 30 years.
Current ABF Freight contributions to CSPF are...
Pension (Central States Pension Class 18)
$342.00 per week
$17,784.00 per year
On a 1% accrual that's $177.84 a year accrued.
If no increases it would be a $5335 a month pension after 30 years.
It's worse than that 25% of 2009 rate 7 dollars a year at least at my local which is still at over 80% funded I'm sure its much less at Central States.Current YRC Freight and Holland contributions to CSPF are....
Pension (Central States Pension Class 18)
$106.55 per week
$5540.60 per year
On a 1% accrual that's $55.41 a year accrued. If no increases it would be a $1662 a month pension after 30 years.
Current ABF Freight contributions to CSPF are...
Pension (Central States Pension Class 18)
$342.00 per week
$17,784.00 per year
On a 1% accrual that's $177.84 a year accrued.
If no increases it would be a $5335 a month pension after 30 years.
Except that the fund will be at zero in FIVE Years...Current YRC Freight and Holland contributions to CSPF are....
Pension (Central States Pension Class 18)
$106.55 per week
$5540.60 per year
On a 1% accrual that's $55.41 a year accrued. If no increases it would be a $1662 a month pension after 30 years.
Current ABF Freight contributions to CSPF are...
Pension (Central States Pension Class 18)
$342.00 per week
$17,784.00 per year
On a 1% accrual that's $177.84 a year accrued.
If no increases it would be a $5335 a month pension after 30 years.
Mid term elections are over, no more talk of Butch Lewis act is required.
after the Buth Lewis Act was dismissed last fall, there were actually real talks of bailing out the PBGC. Then Congress changed.
They can dump the orphans, pay full contribution rates, pull rabbits out a hat and juggle anything else this circus pension ponzi scheme has become, it's still The Gig is Up Time, 50000 paying in 200000 recipients is the Elephant Gorilla and Godzilla in the small room, it's a doomed entity, going broke and it's obvious The Butch Lewis stall campaign was just to kick the can 2 feet up the road, why we allow the 25% contribution to constantly pour down the drain when that can be put in our pockets and a 401k and they're trying to even contribute more. We probably could get the rate if that money was used to pay off the debt, pay us more and fund 401k contributions, why let it go all the way to 0 just to come up with the bright idea 8 years from now to Hey!!!!! Let's put it in a 401k like the West Coast
Pup Driver
TB Veteran
- Credits
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There really isn't that many orphans if any at all . Most of these outfits that went down the drivers and dock found work at union companies . CF McLean, Preston , 4 Way, Holmes Freight Lines and a lot more found jobs with union companies . That means they are not orphans .Yellow , Roadway, UPS and UPS Freight is where a bulk of these jobs went to . Some also went to tanker jobs . Company house truck, Jewell Food and other grocery stores beverage drivers etc.
When the cuts were proposed, time spent at those orphaned jobs was cut porportioally differently than cuts to jobs like Yellow. That's why everyone's cuts were so different. My time at Preaton was proposed to be cut deeper than my time at Yellow Freight.
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