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Yellow | Central States Pension Letter "RED ZONE"

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zippersbs

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Just received another letter from Central States stating the pension fund is in the so called "RED ZONE".
What happened to the UPS buyout from Central States stabalizing the pension fund?

Letter says that if Central States don't get an 8% rate increase in contributions, we "May" end up losing more benefits! Does this sound familiar to the 2003 NMFA when we all got screwed on benefits & insurance?

Why is this happening AGAIN? Doesn't the negotiating committee have a clue on what the hell their negotiating? How can they sell such a BS contract to us & preach how great it is? How can Hoffa & Tyson call us all hours of the day telling us to vote yes on this YRC concession agreement & then allow this garbage letter to come out?

This "Maybe letter" sent by Central States is a bunch of BS & "EVERYONE OF US" should be screaming to our locals to make sure this don't happen.

2004 we lost a big part of health ins. benefits, then part of our pension benefits & now in this garbage contract our job classifications & AGAIN they're talking about hitting our pension benefits. It time for Nyhan TO GO!!!!!! & maybe a few trustee's. We need to get somebody in there that remembers what the rank & file of this Union does & quit feeding these fat cats with fat salaries & benefits.

IF WE LOSE BENEFITS, THAN THEY SHOULD TOO!!!
 
It may be true that the leadership may need a change, but the stone cold fact is there are more people recieving benefits than there are people contruibuting these days. The number of union employee has greatly diminished in the past years and there's not that much money coming in to pay out all the benefits. A harsh but true reality!
 
cashinnow said:
It may be true that the leadership may need a change, but the stone cold fact is there are more people recieving benefits than there are people contruibuting these days. The number of union employee has greatly diminished in the past years and there's not that much money coming in to pay out all the benefits. A harsh but true reality!
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The only solution is to grown the unionized LTL business. That will only happen if 1) Yellow, Roadway, Holland and ABF take business from FXF, Con-Way, Estes, ODFL, UPSF, etc., or 2) the non-union carrier organize AND join the same pension.

Pushing the responsibility to fund the pension to the employees or employer is not a long term solution. Employees will depart or give up. Employers will go out of business.
 
Do I smell a 401k with a percentage match coming our way? Personally, if they were to put as much money in a Roth IRA as they do the pension fund, we would all be better off. That is unless you are already vested then well uh.......mmmmm, I'm just a dumb truck driver. I would rather pay someone else to handle my future.
 
If you read to entire letter, it also states that the currently negotiated increases in our H&W payments does account for the 8% increase required.
 
If the H&W will put companies under, then why would Yellow sign a contract that pays the employees $5 dollars per hour more to the fund? The only thing I've ever heard since the day I started at Yellow was the H&W is killing us. Is it?
 
hilo@342 said:
If you read to entire letter, it also states that the currently negotiated increases in our H&W payments does account for the 8% increase required.
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I'm confused. Then why put the letter out in the first place?
My mail from them comes about a week or more late than everyone else so I haven't got it yet and haven't read it
 
I got an idea! EVERYONE call their locals tomorrow and tell them we have been on the gravy train tooooo long. We will work for.... let's say 14.00 hr and NO OVERTIME UNTIL WE HAVE WORKED AT LEAST 55 HOURS. We could also pay at least half of our benefits and promoise not to retire until age 72. I almost forgot, ANY ROAD DRIVER taking more than 5 sick days will be summarily discharged. That would clean things up in a Jiffy!
 
No the real problem is that we NEED NEW PEOPLE COMING INTO THE FUND .
More people in than out . But the way things stand is that there are more people going out than coming in . Until that changes and the stock market ,price of oil , and things in Washington change,
We're all in deep do-do . Can I say that !
Just my 2 cents
 
roadhazard said:
If the H&W will put companies under, then why would Yellow sign a contract that pays the employees $5 dollars per hour more to the fund? The only thing I've ever heard since the day I started at Yellow was the H&W is killing us. Is it?
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When people say that HWP is killing us, they really mean 2 things. First, the HWP (non-direct salary) contribution for unionized companies is way higher then HWP contributions at non-union companies. In fact, the fringe rate for LTL teamsters is twice as high as the fringe rate for the supervisors and managers they work with.

The second reason people say that HWP is killing us is because HWP is not paid for each hour worked. Generally, HWP is paid for the first 2 or 2.5 full days worked. Working one guy on M-Tu and another guy on W-Th is not the same as working one guy M-Th. This also applies to overtime. Once the HWP contribution is met for the week, it is less expensive for the company to work the person as much as possible after that.

In any case, the solution to funding the pension is to grow the unionized LTL business or unionize the non-union carriers.

CropOffice
 
mudhole said:
I got an idea! EVERYONE call their locals tomorrow and tell them we have been on the gravy train tooooo long. We will work for.... let's say 14.00 hr and NO OVERTIME UNTIL WE HAVE WORKED AT LEAST 55 HOURS. We could also pay at least half of our benefits and promoise not to retire until age 72. I almost forgot, ANY ROAD DRIVER taking more than 5 sick days will be summarily discharged. That would clean things up in a Jiffy!
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Hey sounds like Estes Old Dominion and FredEx freight....you know...the guys building all the new terminals while we close and concolidate ?? Whats your real plan. ride this gravy train into the ground then go work for them ?
 
I want to know why we didn't insist that UPS Freight be part of Central States. The only organizing victory in years and they negotiate a multi year contract without being part of Central States?
 
corpoffice said:
When people say that HWP is killing us, they really mean 2 things. First, the HWP (non-direct salary) contribution for unionized companies is way higher then HWP contributions at non-union companies. In fact, the fringe rate for LTL teamsters is twice as high as the fringe rate for the supervisors and managers they work with.

The second reason people say that HWP is killing us is because HWP is not paid for each hour worked. Generally, HWP is paid for the first 2 or 2.5 full days worked. Working one guy on M-Tu and another guy on W-Th is not the same as working one guy M-Th. This also applies to overtime. Once the HWP contribution is met for the week, it is less expensive for the company to work the person as much as possible after that.

In any case, the solution to funding the pension is to grow the unionized LTL business or unionize the non-union carriers.

CropOffice
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i like the way this man thinks
 
mab said:
I want to know why we didn't insist that UPS Freight be part of Central States. The only organizing victory in years and they negotiate a multi year contract without being part of Central States?
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Thats a very good question. There were some of us that didn't want Hoffa & co. to give UPSF a stand alone contract. We were insisting that UPSF/Overnite be put into the NMFA & the MEPFs. In fact there were 2 IBT leaders that were so concerned about this very thing happening that they split with Hoffa & ran as independents in the Eastern regional VP election against Hoffa's men...... But as we all know the majority backed the Hoffa slates & gave him the mandate to go forward with the UPSF contract. And it opened the door for YRC to demand some of the same "flexibility" that UPSF got.
 
mudhole said:
I got an idea! EVERYONE call their locals tomorrow and tell them we have been on the gravy train tooooo long. We will work for.... let's say 14.00 hr and NO OVERTIME UNTIL WE HAVE WORKED AT LEAST 55 HOURS. We could also pay at least half of our benefits and promoise not to retire until age 72. I almost forgot, ANY ROAD DRIVER taking more than 5 sick days will be summarily discharged. That would clean things up in a Jiffy!
Click to expand...
That's how pjax worked.
 
Boilerpeddle said:
I'm confused. Then why put the letter out in the first place?
My mail from them comes about a week or more late than everyone else so I haven't got it yet and haven't read it
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The letter is a requirement of the new Pension Protection Act that went into effect on Jan 1.

Central States mailed out their TeamWork magazine to explain about the "zones" and why we are listed in the red and the benefits of that vs the yellow.

If you didn't receive it your local should have some extra copies. DS.
 
The biggest problem is we are in a multi employer pension fund.With this only Yellow,Roadway,Holland,& ABF are the only ones left to pay for the retired brothers and sisters that have retired from all the other companies that were in the MEPF. UPS/Overnight payed to get out of this fund. Even if the TEAMSTERS were to get more companies to go union does not mean that they will be in the pension fund. I am afraid that we are in a no win situation.
 
Not to get into an arguement with anyone, but the MEPFs are not "pryamid schemes. Those retirees earned that money & it was paid into the funds in lieu of cash in their paychecks. Those moneys are there in the funds earning interest. IMO it was a smart move on the part of YRC to be able to put the bulk of our raises into the pension & welfare funds instead of our paychecks. We are actually paying down their unfunded liability.......ABF wanted out of the MEPFs but did you notice how fast they agreed to YRC's plan. We have not heard 1 word about ABF pulling out since they accepted YRC's plan.
 
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