Fixing Pension Idea's ??

Discussion in 'YRC Freight' started by wongway, May 23, 2014.

  1. wongway

    wongway -15% Pay & Broke Pension Fund

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    Ok, here is a Question to everybody , what is YOUR idea for fixing the pension 47% funded problem ?? one idea was to switch to a matching 401-K ??? but alot of you guys hated that idea ? So what is YOUR idea's on how to solve the 47% & dropping funded pension ???:wavey:
     
  2. Bart

    Bart Well-Known Member

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    Here ya go a place to start 232 pages of money spent by the IBT

    http://www.workforcefreedom.com/sites/default/files/TEAMSTERS 2011.pdf
     
  3. SCRABBLE

    SCRABBLE Active Member

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    Lets start by cutting the retirees pension amounts so I do not have to do this for 46 years before I can retire. "EQUAL SACRIFICE"





    :hide:
     
  4. ROADY

    ROADY Well-Known Member

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    No problem driver. And then we all can come back to our rightful seniority spots right. EQUAL SACRIFICE you know!
     
  5. mud

    mud Wonderin'

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    If I come back, it's Walmart warehouse or Home Depot deliveries for me.
     
  6. SCRABBLE

    SCRABBLE Active Member

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    I'd love for you to come back and bump me if it meant shaving 17 years off my career and able to retire after 30. I'd roll out the red carpet for you, believe me.
     
  7. twisted-hippie

    twisted-hippie Melon Head

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    CSPF should build 100,000 square foot green house's in Colorado and Washington and start growing pot. Colorado already made 13 million in just taxes . Hell if it don't work out we can be like Cheech & Chong .... go up in smoke !!! :6799:
     
  8. mud

    mud Wonderin'

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    Then lets consider the dollar amount of pension contributions that were payed into the fund on the members behalf.:hide:
     
  9. papajohn

    papajohn Banned

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    Are you serious? Why a retiree’s pension should be cut when teamsters from YRCW companies are the ones that have voted multiply times to allow YRCW to pay in 0 contributions for 2 years (2009-2011), then only 25% of contract rate till 2019. You want retirees to pay for your mistakes. Maybe every Retiree should be able to vote on their company’s contracts if it is going to affect their benefits!!!

    The YES voters voted to accept concessions 4 times so they and they alone need to accept that they are to blame for their pensions...NOT THE RETIREE'S!!!
    JUST THANK THE YES VOTERS!!!
     
  10. Sgt. Schultz

    Sgt. Schultz Member

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    PapaJohn, You hit the nail right on the head. I couldn`t have said it any better if I tried.
     
  11. Crystal

    Crystal Well-Known Member

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    The only way this country's pension problems can be fixed is by the U.S. Congress. They created this mess so let them fix it. For years they have past big business anti labor pension laws that have weaken our status in the middle class. Big business doesn't want pensions or the labor movement to have any power.........Call or write your elected officials and tell them to stop catering to the Koch brothers etc. and start looking out for the workers of America.
     
  12. papajohn

    papajohn Banned

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    Well said!!!
     
  13. electraglideatl

    electraglideatl Well-Known Member

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    I believe the fund managers need to be looked at......On Friday the S&P 500 closed at its all time high of 1900......Our funds should be way up as well if the fund managers did their part....Invest the 17 billion dollars the right way and earn 15% per year then that alone will pay any outgoing expenses.......NUFF SAID!!!!!!!!!!!!!!!:busted:
     
  14. Crystal

    Crystal Well-Known Member

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    I don't think the fund managers have any control over the investments. I think that was taken away from them years ago and given to Wall St. high commissioned brokerage firms by the feds.
     
  15. truckinus

    truckinus Former YRC Dallas 511

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    As far as I know the Central States fund is invested in some big mutual funds. Big fees and crappy returns. I made 50% on my money in the last 6 months and I'm no pro.
     
  16. ROADY

    ROADY Well-Known Member

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    You might get your wish someday my friend, but remember I and no other retiree put you in the situation your in. The union should never had allowed pension deferrals ever to happen. When they did I decided after 39 years on the job to retire and collect what was promised to me and my fellow Teamster retirees. When 2 parties sign an agreement it should be honored. Just think nobody else it this whole bullshi- story concerning YRC is suffering except the rank and file working teamsters now. Management and union officials are all doing fine. WHY? I can sincerely say that the fellow Teamsters of my generation would not have put up with this whole cock and bull story that goes on in this never ending MOU'S ay YRC now.
     
  17. SCRABBLE

    SCRABBLE Active Member

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    There is no easy answer to this cluster f*** that we find ourselves in. Obviously, it is with tongue in cheek that I suggest that we throw the retirees under the bus. For just one minute though, I ask you to put yourselves in my shoes. Many of you got your cash after 30 years....I must work 46 1/2 to get (maybe) the same thing. I speak as a frustrated Teamster that got the rug pulled out from under him and could go on and on with all the broken promises and outright lies told to me throughout the years. You retired guys never had to vote on an MOU with the threat of a company shutdown as the current workers have. A yes vote was not a sign of weakness, its just a whole different ballgame than it was 15 or 20 years ago. I wish all the retirees nothing but happiness and prosperity , enjoying the pensions they rightfully deserve.
     
  18. Hoodock

    Hoodock Well-Known Member

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    Gee,that really sounds fair.NOT
     
  19. Lazer

    Lazer lied to again

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    Every pension fund regardless if a union or non-union employer is doomed to someday fail if two simple things happen.
    1. Number of dues paying members decline.
    2. Monies from funding sources(dues,investment returns, interest,etc.) decreases as pay-outs increase.
    It's a mathimatical impossibility for any pension fund to last forever, it just can't and won't happen. Heck, look at Social Security. No matter how high the SS taxes are increased, and the length of the working carreer is extended, SS someday will collapse and payments will stop. There is no pension fund created that can last forever period.
     
  20. ROADY

    ROADY Well-Known Member

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    Scrabble, I've been in your shoes. The difference is I chose a different path in life than you. I once worked for P.I.E. and they wanted givebacks from the Teamster employees. They started out asking for an ESOP plan (employee ownership bullshi-) voluntary of cause. When they didn't get the amount of Teamsters they wanted to give back their wages they started a campaign of harrassment on us who would not participate. When that didn't work they got our so called union to call for a vote on it ( YRC STYLE). I worked too hard for my pay and left after 10 years with them and started at the bottom at a Roadway terminal. 20 years later the same bullshi- at YRC appears with our unions backing and I left and retired. What I'm trying to say to you is sometimes you have to make hard decisions in your life to support your family, I did, maybe you have not and that is why it's miserable to go to work everyday. Don't blame retired teamsters for the problems occurring on the job now. We took many stands in our days and you guys would probably be better off now if you fought back a little harder against these givebacks. Good luck brother in the end we all are still Teamsters.
     

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