Yellow | Should YRCW Buyout out of Pension ?
- Thread starter wongway
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skullcramp
Government Seal
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Sign me up, except for the fact yrc is probably going to ask for no pension pay in and a 401-k instead. I can't see them offering anything . When I say sign me up, give us each 10 large for each year of service, and I'd take it.
I think it sounds like a great idea!
YRC has MONEY , they have more money then union will ever know , and a buyout and follow the UPS plan they used !!!
YRCW has more money in Cayman banks then Union will ever know about !!! just ask "JAMIE" !! this is DEAL that could happen by 2019 it's a no brainier to buy out of it and plus then be easier to sell it off to DHL !!
YRCW can't buyout pension obligations for the same reason Wong doesn't own a Ferrari, a Maserati, a Jaguar and a Bentley.
Wong may have resources you overlooked.
You're absolutely correct El, I shouldn't assume.
They don't want to eliminate your pension, they want to eliminate you.
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Your comparing YRC to UPS, there is no comparison.
Sure there is, UPS has tons of cash on hand, YRC has tons of cash in Cayman Islands accounts.
(At least enough to fill the Monopoly piece recommended for retirement.)
highheadblues
TB Veteran
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Buyout of the pension is not going to happen,but being in CSPF I would like to see 100/wk 401 contribution instead. No reason to continue to contribute to CSPF since it will be gone in 10 years.
bigtruk_us
TB Legend
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Tons of money in Delaware tax shelter and New Hampshire and Nevada.Those are the states that corporations stash their money with limited tax liability.They can however withdraw that money up to a certain dollar amount for capital re-investments.
Pension Buyout would free up YRC to do what ever they wanted to do SELL or Merger or whatever , it could happen , never say never !! OR do a employee pension buyout ? ,http://www.pensionrights.org/publications/fact-sheet/should-you-take-your-pension-lump-sum
mysticobra
Over Here Now.
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