Don't be coy you can tell us how you really feel, let it all out we're here for you brother
Yellow | TNFINC MSG Pension Contribution Discussion
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larry retired
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I obviously don't know what is going on behind the scenes, but if I take the memo on face value, and I have no reason to do otherwise at this point, there is nothing happening. But I guess I can read between the lines, like some of you, and assume the worst. Yeah, that's what I'll do. At least that way I will have a lousy Easter weekend. It may all be true, but there is no reason to wait till then when I can make myself miserable now. I already feel better just coming to this realization. Now I must go out and spread my misery. This is not something I should keep to myself.
electraglideatl
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Well those damn rumors really have me worried........I am retiring in exactly 2 weeks on april 24th......hope i get my check in may.....what the Hell should I do??......any thoughts?
You should be fine. Nothing ever happens that fast in this company.
I am not an apologist for the international. I think the last contract we approved but they negotiated was **** poor. I didn't support it.
I did support the giveback. The economy not only dipped, but fell of the cliff. The international negotiated in good faith and made their best attempts to get in front of this problem. They made it clear this was a one-time opportunity so it was critical to get it right. But the economy continues downhill and the company couldn't have screwed up the merger anymore than they did.
Understand what is going on behind close doors. This is the nuclear option. Mutually assured destruction. Our elected officials know the significance of hanging the 72-hour strike authorization. It doesn't just blow up YRC, it blows up everything that is NMFA Teamster. ABF and whitepapers and all the locals will be out of business because the pension liability falls to them. Or to put it more appropriately, it falls on them.
We can sit here in our peanut gallery and be critical of our leadership but everyone ought to a big step back and realize the tremendous pressure they are under. Everyone's livelyhood is in their hands and they will be savaged no matter how the decide. Real people will be making this call and we should show a little respect for the situation they're in.
bubbadog121
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electraglideatl
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I just called central states and found out april 15th they will receive marchs contributions and that will give me 65 days for this year and i only need 75 so if the company doesnt pay aprils payments on may 15th i will miss my retirement by 10 days.....i asked if i could pay the $56.00 per day times 10 days out of my pocket and they did not know.......so i am sweating bullets now.......to miss 25 years by only 10 days and leaving my job not knowing if it is paid in......like i say april 24th is my very last day.......:TR10driving03:
:Flame-On:
electraglideatl
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Congrats on the retirement
Waggs is right you should be ok.
Thank you very much and I hope that you and Waggs are right
I just called central states and found out april 15th they will receive marchs contributions and that will give me 65 days for this year and i only need 75 so if the company doesnt pay aprils payments on may 15th i will miss my retirement by 10 days.....i asked if i could pay the $56.00 per day times 10 days out of my pocket and they did not know.......so i am sweating bullets now.......to miss 25 years by only 10 days and leaving my job not knowing if it is paid in......like i say april 24th is my very last day.......:TR10driving03:
Why don't you just stay a couple of weeks extra?
larry retired
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I'll add one thing to the hysteria, but it is not directed at you. I hope everything works out for you. But here is a scenario that I am familiar with, because it happened to a friend of mine who retired from NW. They went into arrears with their pension contributions for a fairly long period before eventually going belly-up. My friend retired right at his eligible point, not one day later. Unfortunately he was unable to collect his first check for a few months until the company's contributions had caught up to point where he needed them to be. He didn't do enough advanced research to make sure all his ducks were in a row. He just wanted out as soon as he could go and let emotion get ahead of prudence. So this is some advise to all of those who could retire now but keep hanging in there for whatever reason, some justified and some out of pure greed. If this situation does materialize, and with the way things are going, it wouldn't surprise any of us. You might want to reconsider your desire to stay until hell freezes over.
Cant you ask for a waiver from the trustee board on the 10 days? I am sure they would understand the circumstances and give you a pass. Good Luck, I know the feeling a little, I have 34 years but am trying to crawl to the retiree medical age in my local in the North east.I just called central states and found out april 15th they will receive marchs contributions and that will give me 65 days for this year and i only need 75 so if the company doesnt pay aprils payments on may 15th i will miss my retirement by 10 days.....i asked if i could pay the $56.00 per day times 10 days out of my pocket and they did not know.......so i am sweating bullets now.......to miss 25 years by only 10 days and leaving my job not knowing if it is paid in......like i say april 24th is my very last day.......:TR10driving03:
They may not even need to defer payments but it would be bad business not to ask for it in light of never being turned down for anything you ask for. Like a stray cat, you can't get rid of it by feeding it.
imported_JoeyD705
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Pension Arrears
I agree, they did not approach only one fund. I am sure they hit them all.
Secondly, the IBT cannot grant a suspension of contributions, only the trustees can do that. The trustees are usually made up of 3 and 3 or 4 and 4. 3 from the union and 3 from the employers or 4 from each. Their job, no matter who they work for, is to try and protect the funds for the security of allthe participants. They have a fiduciary obligation to do so and this is covered by law. I bolded the word all because remember not all of the participants are YRC employees. Many come from other employers and industries. If YRC fails to pay their contributions what does that do to the rest of the employers and participants?
Good luck to everyone caught in this quandry.
I agree, they did not approach only one fund. I am sure they hit them all.
Secondly, the IBT cannot grant a suspension of contributions, only the trustees can do that. The trustees are usually made up of 3 and 3 or 4 and 4. 3 from the union and 3 from the employers or 4 from each. Their job, no matter who they work for, is to try and protect the funds for the security of allthe participants. They have a fiduciary obligation to do so and this is covered by law. I bolded the word all because remember not all of the participants are YRC employees. Many come from other employers and industries. If YRC fails to pay their contributions what does that do to the rest of the employers and participants?
Good luck to everyone caught in this quandry.
mustangfan
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For some reason I think they want to have to not pay for "everyone " in the pension so to speak......I am playing devils advocate........I think they will say to the union we either can't pay for "everyone" or we will go under......Not saying this is true or right just an opinion..