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amac256

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It's time to cut those pensions loose for the people who did not work for YRC --- this is a burden for the company and should be wiped clean -- there are many people out there who have given there lives to this company who are now looking at a big zero --( not fair is right ! - zollars )
 
well, welcome to the real world, you are not thinking, I hope you get your way, then in a few weeks, when yrcw goes under you will then be an orphan, and then guess what, you will not get anything from the funds either. Be careful what you ask for.
 
Remember this, Yellow does not pay the pensions for the orphans, the funds do. . Yellow contributes to the funds as many other active companies do. God you guys do not think straight sometimes. :ranting2:
 
Government will take over our pensions if YRCW goes under. Just like they did for the airlines & steel workers multiemployer pensions get bail outs. The max the gov pays out is 1400 so all better lower there standard of living or go find another job at 60+ good luck. We are fastly becoming a 3rd world country our credit has run out reality sets in we own nothing. Even if your home is paid still have to pay taxes on it.
 
i worked for a company that paid into central states almost 20 yrs on my pension. closed our warehouse .i went to bigR . the old company is still operating and paying in. so now do i loose out on that part because i went to bigR and been layed off half the time and again. did i blow my 20yrs because worked 2yrs out of the last 5 for these losers? i don't mean bigR as losers just the yrc thing.
 
amac256 said:
It's time to cut those pensions loose for the people who did not work for YRC --- this is a burden for the company and should be wiped clean -- there are many people out there who have given there lives to this company who are now looking at a big zero --( not fair is right ! - zollars )[/QUOTE

Well how do you like that..showing your true colors now !!! Maybe we should just kick everyone out of ANY govt funded nursing home or hospice too. They didnt all work for Yellow or Roadway therefor we shouldn't have to pay taxes that go for their care ..I bet you would squeal like a pig if you had retired from RedBall or NationsWay or Jones or ETMF of any one of the hundreds of deceased companies that built the fund to begin with if they wanted to stop funding your pension. Why dont you just quit instead of retiring so that the rest of us don't have to pay for your retirement. It's just a matter of circumstance that YRC is the last big dog standing,you could have been working for a line that's already gone and be at the bottom of your roster and probably laid-off right now ! The fund was set up the way it is for very good reasons not the least of which is to ensure that we would ALL get to retire not just someone from Yellow !!! Maybe you shouldn't have given your life to a company that only cares about profits and wouldn't so much as pee on you if you were on fire !
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little crow you got it right. as far as i know alot of companies pay to central states. what happens to everyone thats paid years in and has nothing to do with yrc. are they're cntracts null and void with central states just because the yrc people are screwing this company up.
 
If the government does let YRCW out of the multiempolyer pension fund to only provide for it's employees. People who worked for companies that folded will still get a pension 1400 for those drawing a full pension right now. People who have 20 yrs vested would expect to get something like 8 to 900 a month when they come of age to retire. I don't recall exactly the name of the Gov branch that takes it over but it's something like PPBC. A little research on line you will find it call & ask them what can happen ? Also what happen to the steel workers whose companies folded back in the 70s & early 80s ? Will say are all getting a little something not what they expected but better then nothing.
 
i haven't done any research on pensions yet. when they merged and threw us out i was prepared to go to restoring cars. not planning any more trucking. i'm a 3rd generation teamster. my uncle retired from C-F in the 80's after about 30yrs. he said to get the hell out when these so-called mergers took place. nothing more than away to break the teamsters. he has passed on now but it was the best advice anyone ever gave me.
 
Questions..

How is YRC paying for retirees from other companies anyway? Doesn't their retirement money come from the fund that their companies paid into, & the teamsters/ CSPF invested? How does that translate into YRC paying for it....is the pension contribution for YRC workers inflated to cover the deficiencies created when other companies go out of business? And if they succeed in getting what they want, how will that work? They'll take our pension contributions to another fund like UPS did?
 
YRC to Apply for Federal Bailout

YRC to Apply for Federal Bailout | Teamsters for a Democratic Union
May 15, 2009: YRC announced they will apply for federal bailout money, possibly as soon as today, citing their pension costs as a factor.

YRC may have a difficult task, because TARP (Troubled Asset Relief Program) funds have only gone to the big auto companies, aside from banks and financial institutions.

But YRC may have a back-up plan. CEO Bill Zollars told the Wall Street Journal that he hopes to “get the conversation going” with the government about the issue of multi-employer pension funds that include retirees of corporations that are now closed.

Teamsters for a Democratic Union (TDU) is calling for an expansion of the role and funding of the Pension Benefit Guarantee Corporation (PBGC), in part to deal with this issue. The defense of the hard-earned pensions of millions of American workers is a top priority.

The Teamsters Union has a high-level pension committee looking into the issue. Reportedly the Teamsters encouraged YRC to apply for TARP funds.

YRC has not paid its latest monthly payments to various Teamster funds, and is in talks with the pension funds to post real estate as collateral for some months of payments.
 
i don't know.i wish i did. my old company is still in operation and paying in as far as i know. just not my old location. my question is are the contracts we had and fought to get going to hell because of yrc? don't know and haven't checked it out yet. i guess my question is do i take a cut on the pension with the other company because yellow is a pack of fu-----h ups that messed up my job at BigR and caused this yrc thing. no offense intended towards yellow employees but ya'll know what i mean you guys are in the same boat as i'm in. just keep paddlin
 
dhawk said:
i don't know.i wish i did. my old company is still in operation and paying in as far as i know. just not my old location. my question is are the contracts we had and fought to get going to hell because of yrc? don't know and haven't checked it out yet. i guess my question is do i take a cut on the pension with the other company because yellow is a pack of fu-----h ups that messed up my job at BigR and caused this yrc thing. no offense intended towards yellow employees but ya'll know what i mean you guys are in the same boat as i'm in. just keep paddlin
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'Supposedly' there is no Yellow or Roadway anymore....only YRC. Wonder if they're going to try to use that ploy, for the ones that retired from those companies..:duh::nutkick:
 
yellowtooner,, iwonder about that too. i see a preston avatar had some friends out of salem,il,lost contact with them and some passed on great guys. when i was grocery hauler had a store across the street from their terminal. shame the old days are just old days
 
Maybe part of the problem is you here at Union meetings that they organized this and that, but do any of those people come into CS? No Where will it end? Our pension is going down the toilet no matter what because nobody want to come in and share in the unfunded liabilty - Why didn't we get all are money instead of settling fo rpennies on the dollar when CF went under ----How can last one standing pay for everyone?
 
amac256 said:
it's time to cut those pensions loose for the people who did not work for yrc --- this is a burden for the company and should be wiped clean -- there are many people out there who have given there lives to this company who are now looking at a big zero --( not fair is right ! - zollars )
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what about abf my company is still around and is paying into the same pension fund as yrc how is it fair that abf still pays into it and yrc dosent have too.so your saying its ok for us to keep the pension going so yrc can start thier own or just take care of their guys we are all supposed to be brothers and sisters (take care of our own)
 
dhawk said:
yellowtooner,, iwonder about that too. i see a preston avatar had some friends out of salem,il,lost contact with them and some passed on great guys. when i was grocery hauler had a store across the street from their terminal. shame the old days are just old days
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It was a great place to work. I actually enjoyed going to work there.
 
Just curious. How many of you had all your eggs in one basket so to speak? Counting on your pension as your sole income after retirement? That's not really the smartest thing to do.

Hope for the best but prepare for the worst is darn good motto to live by.
 
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