maybe it is that way by "design"
wouldn't abf like to get a piece of that 10% pay cut!::
Wow--a finance major and a commedian to boot!
maybe it is that way by "design"
wouldn't abf like to get a piece of that 10% pay cut!::
I did. Its called more than their fair share into the pension plan. I guess the word "fair" only implies to the Teamsters.
ABF does not pay for other retires. They pay for me and you to central states then central states pays everybody thats retired from other companys. don't you guys know what your talking about.
If you less companies paying into Central States or whatever conference you in, then how where does Central States get their funding? The Tooth Ferry? No, The remaining companies have to pay more to keep it funded. Use your freakin head.
And you spell it "Companies" not "Companys".
Now that's funny!!!!!!Maybe you should try to post this again in the morning after you have sobered up.
Whats a Tooth Ferry?
If you less companies paying into Central States or whatever conference you in, then how where does Central States get their funding? The Tooth Ferry? No, The remaining companies have to pay more to keep it funded. Use your freakin head.
And you spell it "Companies" not "Companys".
Sean Hannity on a Living Wage-An example of Hannity's hard-heartedness is his take on the living wage issue.
Hannity proclaims that he's sorry, but these people had choices in life. They didn't choose to get an education and better themselves, so they have only themselves to blame that they are in low-paying jobs. It's the result of their own free choices in life that they can't now feed their kids
In response to all the comments about the ABF pension obligations to the central states fund... there is a lot of confusion and misunderstanding...
My understanding is that ABF didn't want to get out of the fund because they were afraid their OBLIGATIONS were going to increase if YRCW went under... it's because the fund itself WILL go under if YRCW goes under, and actually it'll go under w/o YRCW going under, in time. Each company is only obligated to pay into the fund for the employees/miles driven by their actual employees. So just because one goes away does not increase the others obligations. HOWEVER... there are SO MANY retirees drawing on the fund that worked at companies who no longer contribute to the fund, that it will go under in time with only two companies contributing now. ABF knows that when it goes under, ABF union employees (NOT ABF itself) will be left holding the bag. The government will take over the fund, YAAAAY right? WRONG... they will only guarantee about 25% funding so yah... you'll get some retirement, but nothing like you were going to get before.
ABF has been trying to buy out of the fund to protect it's employees (past, present, future) interests... they want to quit contributing into a dying fund (basically throwing $ into a burn pit) and start contributing into something that resembles a 401k (but not exactly) that IS guaranteed and will NOT be drawn from by employees from dead companies who never worked for ABF. ABF knows this. They also have been contributing MORE than their obligation to the funds to put off it's failure as long as possible. They don't have to... but they do it to protect the interests of their employees. They are willing to start a new fund with a very large initial deposit and contribute to it and everyone's pensions will be secured.
The UNION wouldn't listen to ABF at the last negotiation... the union basically said you get what YRCW gets and YRCW wasn't interested in buying out (why? maybe because they are too broke to come up with the buy-out $?) so ABF was screwed. Also, if either ABF or YRCW quit contributing to central states... it'll go down faster... the union doesn't want that either. But it IS going to happen, just a matter of time.
Simple as that.
I must have missed those posts. Would you be kind enought to provide the links to those posts that accused you of being anti union for pushing a more personal retirement type program?That's why I pushed for a more personal retirement type program. Yes, like the 401K. But some on here accuse me of being anti-union for thinking that.