Yellow | Thirteenth Check.
- Thread starter mud
- Start date
truckchick1
TB Veteran
- Credits
- 0
Are you already retired?
Northern Flash
Today's Democrats are similar to Commies.
- Credits
- 424
When you go through the retirement process they bring up the thirteenth check that you might receive in a year. The lady at my local brought this up to me when she submitted my paperwork. She said to watch for it but wasn't sure if I would get it or what it was for. I've been retired since 06/2009.
Cab Lizzard
TB Veteran
- Credits
- 577
I got a letter about a month ago telling me that I would not AGAIN be getting that 13th check. Will be 3 years this August and have not got a check yet !
Hey MUD may I ask if it was $100.00 ? That is my understanding and will go up $100.00 every year retired.
Hey MUD may I ask if it was $100.00 ? That is my understanding and will go up $100.00 every year retired.
The check was for $91.52. Parts of the enclosed letter said "Amounts have been reduced to provide an automatic survivor benefit for spouse" and "A benefit will be paid to you once a year for life".
bootleg707
TB Lurker
- Credits
- 0
In our Local the 13th check deals with the pension based on 4wks/month. The 13th check is for the months with 5 weeks. Of which I will never see with 23.5 yrs vested and age probably being raised to 62 or 65. No more 25 and out that ship has sailed as well as 30 and out. Hopefully you guys and gals aren't as screwed as us at 707. BLEEDING CASH! no organizing etc.
Northern Flash
Today's Democrats are similar to Commies.
- Credits
- 424
I've never heard that before. The 13th check has been known as entering the "safe zone" for retirees. Meaning that after you receive your 13th check, they missed their opportunity to penetrate you.
Where do you find language on the "Safe Zone" & after you receive the thirteenth retirement check your pension benefit cannot be changed? I have been unable to find this in Central States fund information. I know there is language in the Pension Security Act of 2006 that pertains to company pension plans that addresses this but this says nothing about multi employer plans. If the plan is underfunded like Central States & the PBGC takes control of the fund they will do whatever is necessary to make the fund last 20-25 years. The figure I read is $35.75 per month X number of years vested. I will appreciate any information on this matter, thanks.
Northern Flash
Today's Democrats are similar to Commies.
- Credits
- 424
Cab Lizzard
TB Veteran
- Credits
- 577
It is my understanding this is only in the Western Fund
Does CSPF give a 13th check?
At that rate my 21 years (latest letter; I have another saying 22 the year before) would pay 1703. They HAD been sending me letters saying 2488, long as I wait til 65 (7 more years).
I have been retired for 5 years from ABF in the Western Conference after 40 years of service. This was a supplement negotiated years ago between the employers and the Teamsters Union. In the west, our pension is payed by an annuity through Prudential Insurance when we retire. The supplemental check comes from the Western Conference of Teamsters. It starts at $100 and increase $100 each year for 18 years at which point you are at the maximum. All of the freight companies paid into the fund. When Yellow freight stopped paying into the pension fund they also quit paying into the supplemental fund. For the last two years the Teamsters have not increase our "13th" check. We are frozen at the rate we received two years ago until the fund starts receiving more money. All new retirees are not eligible for a check for the same reason. Also, when a company goes out of business and stops paying into the fund, those employees of that company are frozen at the last check amount before the company closed its doors.
Cab Lizzard
TB Veteran
- Credits
- 577
After a few more phone calls (thanks to R-14 ) I got a answer as to why I have not received my 13th check.
This 13th check out in the West is also tied to weather your employer pays into the fund or not. If your employer is in good standing with the fund and you have been retired a year you get the check.
So anyone that worked for YRCW will not get the check even if they retired before YRCW stopped paying into the fund. She could not tell me if a person that retired 5-10-15 years ago was getting a check or not.
This 13th check out in the West is also tied to weather your employer pays into the fund or not. If your employer is in good standing with the fund and you have been retired a year you get the check.
So anyone that worked for YRCW will not get the check even if they retired before YRCW stopped paying into the fund. She could not tell me if a person that retired 5-10-15 years ago was getting a check or not.
If you are in CSPF the so called 13th check rule does not matter anymore cause you can't get your first check (100%) till 65!
On the CSPF website there is a link to Pension Plan it is the one on pdf file with 177 pages and is toward the end
Think back a little how many of your co-workers passed before the age of 65 (the new age to retire is 65)
You can bet your sweet *#% they figured in the mortality for people who hump frieght for 40 to 50 years!
At 65 I'll have have my 48yrs in