ABF | Is ABF ready to buy???

I did. Its called more than their fair share into the pension plan. I guess the word "fair" only implies to the Teamsters.

What do you call 'FAIR SHARE'??2631 has explained it.. Big Steve has explained it.What part don't you understand??From what I see is you want the best of different companies .You want to work for Abf ,surely a company with a future,but would rather have a pension plan like UPSF. So let's see working for ABF you are under the NMFA,do you pay for your medical like it is in the white paper contract that UPSF has??I believe they pay.If you have a beef about the pension it would be with the IBT and ask them why didn't they fight to put UPSF under the NMFA,cause had they done this :clap:we wouldn't be having this conservation...
 
Face it,we will not have pensions or social security,we will be working till we drop dead,so if you are out of shape you best start working out because when you reach 70 it wont be so easy to pass the d.o.t physical.we are slaves for the u.s. Government.we struggle and they live high on the hog with tax payers money.
 
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.
 
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".
 
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".

Maybe you should try to post this again in the morning after you have sobered up.

Whats a Tooth Ferry?
 
I'm not one to try and criticize any one's spelling. But this post smells like a "right wing sycophant's" attempt at using his "holier than thou" superior intellect in an incoherent attempt at attacking truckerboy's post.

This has got to be a keeper. From now on whenever I see the name stoneyABF I will be reminded of this post

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".


To save you the trouble of looking it up my use of the word "sycophant" was to show that his posts appear to be that of a right wing toady, yes man, flunky, fawner & flatterer. One who has been "Hannitized"

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
 
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

hannity sucks..
i was going to be a rock star...yeah thats why i did'nt get an edumacation...changed my name to johnny bravo and it went nowhere...:TR10driving03:
 
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.
 
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.


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.
 
401ks are as useless as teats on a bull, just ask anyone who has one and ask them what the value and how much they have lost over the last two years,they are in the same boat as we are.
 
scifi....thanks for a great post...helps me understand better whats going on....it sounds like....abf..the company really is trying to do something for your guys retirement....also i believe abf is a well run company...i wish you guys the best in this matter...and that a good pension plan gets put in place...we all need some pension with our social security when we retire....
 
Ya, they took a hit last year. but since the beginning of the year the market is up 17% on average. And the stock market has averaged close to 12% in returns for the last 70+ years. Everybody freaks out when the market takes a dump like last year. But if you invest for the long term, you always come out ahead.

Fact: Any 10 year period of the stock market has shown a gain.

What do you think your pension is invested in? Yup, the stock market. Mutual Funds are the best way to go. Single stocks are to risky.
 
Just ask the poor souls whove had been putting into thier 401ks for the last 25 years and have nothing to show for it and cant retire,short term long term they are nothing but ponzi schemes just like bernie madeoff with all the money ponzi scheme.
 
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.
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?
 
well that's what most people say who don't fully understand the benefits of a 401k... BUT, what they were pushign wasn't exactly a 401k (as I said) it was just an example for a familiar term. They repeatedly said they were NOT recommending a 401k, but the main similarity wiht what they were recommending and a 401k was that it was associated with each person, rather than a big pot with many hands withdrawing and it'll follow you wherever you work.

And NO, people with 401k's are NOT in the same boat as you. I have one... and yes, the value has gone down (-35% last year), but yes... it will come back up (+12% so far this year). The 401k won't fail and be taken over by the government at a tiny % of the original value... in the market, you only lose if you sell. But, if Central States goes down, everyone loses. When your central states fund fails, I'll still be gaining % on my 401k.

But aside from that point... they didn't want to do a 401k from that perspective, just an employee-owned pension account that the company funds and that is guaranteed and NOT tied to the success or failure of the company. Sounds good to me.

Their plan may not have been perfect... but really... I don't think ANY reasonable person believes Central States will survive. There is just too much load for two companies to support long term. SOMETHING has to replace it, either the govt or something the companies put into place. ABF has a responsibility to IT'S employees to provide their retirement, and that is not going to happen if they continue with the status quo in Central States.

If you work at ABF for your entire career, how would you feel knowing that thousands of people who never worked for ABF are withdrawing benefits from the $ ABF puts into the fund... and that ultimately THEY will be responsible for YOU not having a pension? (well, you having a very small one after the govt takes over) I understand why they created the plan, but the only people who benefit from it are the ones working for companies who ALREADY went bankrupt.

Just my take on it.
 
scifi....i believe a plan like you are talking about...was done at overnite....the way it was set up long ago before 401ks were even thought about....very good plan...good pension...seem to work then and seems to be working now....before i get jumped on guys...i am just talking about the plan....
 
Yeah yours will go up and down but what about the people who planned to retire this year and cant,they are in the same boat because a 401k is based on the market just like are pension plan.
 
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