Yellow | The New CSPF Accrual Rate Multiplier

[Kennesaw Kid]

The new accrual rate for CSPF….I will try to explain it the best I can…..This is MY Opinion.

The only difference on the accrual under the proposed rescue plan will be not be a 1% accrual multiplier anymore, it will be lowered to .75%.

So, for ABF being paid $342.00 a week for 52 weeks x 1% was a $177.84 a year accrual. Now it will be cut to $342.00 per week x.75%, or $133.38 a year accrual.

For YRCW, it was $70.00 a week x 52 week at 1% for a $36.40 a week accrual.
Now it will be cut to $70.00 a week x52 weeks x .75 % , or $27.30 a year accrual.


This does not factor in the suggested contribution rate increases that the new rescue plan calls for.

SO…if you stay for 10 MORE YEARS, you will receive $273.00 more a month for your troubles….if you are a new hire….you will get the same, heck, in 30 years if no changes are made you too can have a 30 year pension at $819.00 a month!

Now do you see why we are all pissed at work, new hires?

 

[tutone710]

 

[Trucker18]

The new accrual rate for CSPF….I will try to explain it the best I can…..This is MY Opinion.

The only difference on the accrual under the proposed rescue plan will be not be a 1% accrual multiplier anymore, it will be lowered to .75%.

So, for ABF being paid $342.00 a week for 52 weeks x 1% was a $177.84 a year accrual. Now it will be cut to $342.00 per week x.75%, or $133.38 a year accrual.

For YRCW, it was $70.00 a week x 52 week at 1% for a $36.40 a week accrual.
Now it will be cut to $70.00 a week x52 weeks x .75 % , or $27.30 a year accrual.


This does not factor in the suggested contribution rate increases that the new rescue plan calls for.

SO…if you stay for 10 MORE YEARS, you will receive $273.00 more a month for your troubles….if you are a new hire….you will get the same, heck, in 30 years if no changes are made you too can have a 30 year pension at $819.00 a month!

Now do you see why we are all pissed at work, new hires?

Does the YRCW Accrual Rate you've calculated affect Holland workers too? Also, was it known when the new contract was voted in that there were be a reduction in pension accrued or is this new due to the rescue fund?

Newbie and an ORPHAN with 9 years contributory at CF & Roadway being cut from $891 to around $350. Was hoping to make up some pension money before I get too old to work, but looks like that plan is down the drain.

 

[SAC75]

Does the YRCW Accrual Rate you've calculated affect Holland workers too? Also, was it known when the new contract was voted in that there were be a reduction in pension accrued or is this new due to the rescue fund?

Newbie and an ORPHAN with 9 years contributory at CF & Roadway being cut from $891 to around $350. Was hoping to make up some pension money before I get too old to work, but looks like that plan is down the drain.

Yes Holland has the same thing as YRC. Yes the new accrued rate is from the rescue plan. Its all in the letters you should have been receiving from central states.

 

[yrc-atm]

Does the YRCW Accrual Rate you've calculated affect Holland workers too? Also, was it known when the new contract was voted in that there were be a reduction in pension accrued or is this new due to the rescue fund?

Newbie and an ORPHAN with 9 years contributory at CF & Roadway being cut from $891 to around $350. Was hoping to make up some pension money before I get too old to work, but looks like that plan is down the drain.

The accrual rate is for ALL CSPF companies.

 

[Trucker18]

The accrual rate is for ALL CSPF companies.

Is $27.30 accrued per year for YRCW part of the rescue plan or was this agreed to in the contract? I see where the accrual rate is dropping from 1.0% to .75% but I didn't see in the documentation where it states that YRCW would get 25% of the new amount. It make sense since the company has not made full contributions since like about 2009 or 2010, but was hoping this part of the rescue plan would be nixed.

I almost have a year in. Does that mean that all along I've only accrued $27.30 toward my pension.
Boo......National Teamster Holiday should be enacted soon. Why work ..... Wage Cut..... No benefit toward my pension.....

 

[yrc-atm]

Is $27.30 accrued per year for YRCW part of the rescue plan or was this agreed to in the contract? I see where the accrual rate is dropping from 1.0% to .75% but I didn't see in the documentation where it states that YRCW would get 25% of the new amount. It make sense since the company has not made full contributions since like about 2009 or 2010, but was hoping this part of the rescue plan would be nixed.

The accrual rate applies to whatever your contributions are as stated in the contract. In the case of yrcw companies, our contributions are 25% of the 2009 amount. So you will accrue at .75% of 25% of the 2009 contribution amount.

 

[BIG R GUY]

Is $27.30 accrued per year for YRCW part of the rescue plan or was this agreed to in the contract? I see where the accrual rate is dropping from 1.0% to .75% but I didn't see in the documentation where it states that YRCW would get 25% of the new amount. It make sense since the company has not made full contributions since like about 2009 or 2010, but was hoping this part of the rescue plan would be nixed.

I almost have a year in. Does that mean that all along I've only accrued $27.30 toward my pension.
Boo......National Teamster Holiday should be enacted soon. Why work ..... Wage Cut..... No benefit toward my pension.....

If you do stay, I would advise getting into the 401K plan available. Anything you put in is under your control and goes with you if you would leave later on. Most people I have talked to that got in when it was offered are glad they did.

 

[Hoodock]

Is $27.30 accrued per year for YRCW part of the rescue plan or was this agreed to in the contract? I see where the accrual rate is dropping from 1.0% to .75% but I didn't see in the documentation where it states that YRCW would get 25% of the new amount. It make sense since the company has not made full contributions since like about 2009 or 2010, but was hoping this part of the rescue plan would be nixed.

I almost have a year in. Does that mean that all along I've only accrued $27.30 toward my pension.
Boo......National Teamster Holiday should be enacted soon. Why work ..... Wage Cut..... No benefit toward my pension.....

Yep! 30 yrs at that rate will get a whopping $819 a month

 

[ROLLBACK]

The new accrual rate for CSPF….I will try to explain it the best I can…..This is MY Opinion.

The only difference on the accrual under the proposed rescue plan will be not be a 1% accrual multiplier anymore, it will be lowered to .75%.

So, for ABF being paid $342.00 a week for 52 weeks x 1% was a $177.84 a year accrual. Now it will be cut to $342.00 per week x.75%, or $133.38 a year accrual.

For YRCW, it was $70.00 a week x 52 week at 1% for a $36.40 a week accrual.
Now it will be cut to $70.00 a week x52 weeks x .75 % , or $27.30 a year accrual.


This does not factor in the suggested contribution rate increases that the new rescue plan calls for.

SO…if you stay for 10 MORE YEARS, you will receive $273.00 more a month for your troubles….if you are a new hire….you will get the same, heck, in 30 years if no changes are made you too can have a 30 year pension at $819.00 a month!

Now do you see why we are all pissed at work, new hires?

Don't wast your time kk, they won't understand until 30 years from now.

 

[ROLLBACK]

Don't wast your time kk, they won't understand until 30 years from now.

30yrs from now $819 will probably be worth -$819

 

[ROLLBACK]

30yrs from now $819 will probably be worth -$819

-$819.00

 

[Bart]

So I work 40 years to get a pension that was frozen in 2003. Raised to age 65 unless you take the reduction. Cut in half by MEPRA. I guess I'm lucky I can work on another pension to get screwed out of by the same people that already screwed me

 

[the5tolls]

I just don't understand why we can't get any and keep any new hires?

I thought I read in the last few days some where that no one should jump ship till after July 1, 2016.

Did I read this correctly and if so can someone explain to me why you would not want to make a change till then. Thanks

 

[BIG R GUY]

So I work 40 years to get a pension that was frozen in 2003. Raised to age 65 unless you take the reduction. Cut in half by MEPRA. I guess I'm lucky I can work on another pension to get screwed out of by the same people that already screwed me

Work till they have to call the ambulance to carry you out.....

 

[Bart]

The new CSPF retirement plan

 

[BIG R GUY]

Too bad the original YFS board people who hired Zollars could not be dragged into court for failing to maintain the responsibility to shareholders, and employees, hiring a person who had no transportation experience, and signing him to a contract that basically said he got big bucks no matter what happens.

 

[Shutter Down]

So I work 40 years to get a pension that was frozen in 2003. Raised to age 65 unless you take the reduction. Cut in half by MEPRA. I guess I'm lucky I can work on another pension to get screwed out of by the same people that already screwed me

That's it in a nut shell screw them for 27 dollars more a month clock in and out that's all the effort they get from me. All a bunch of thief's.

 

[the5tolls]

I just don't understand why we can't get any and keep any new hires?

I thought I read in the last few days some where that no one should jump ship till after July 1, 2016.

Did I read this correctly and if so can someone explain to me why you would not want to make a change till then. Thanks

I don't know if anyone else saw that post that said not to jump ship till July 1, 2016? Am I correct that someone said that and if so can anyone explain why. Thanks again! I guess I am really thinking about it but don't want to make a hasty decision that I will regret later.

 

[Deleted member 5115]

I don't know if anyone else saw that post that said not to jump ship till July 1, 2016? Am I correct that someone said that and if so can anyone explain why.

I believe that it was KK who made that statement. I recall reading it in the opening post of a thread that he started (If I recall correctly) and it was not too long ago (a week or so) so if you check his threads you should be able to find it.