PDX Buddha
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As a former Employee of Reddaway, I stuck it out when YRC suspended payments into the Pension. I had skills and was vested, but was just a few months under the Bubble for my benefits. In spite of that, I stayed with Reddaway until retirement, and came out Okay, but to younger Employees, please look at changing employers , preferably with another Union Barn that is still paying into Western States Pension Fund. If you were vested before the suspension of benefit contributions, changing your employment to a Company that is still paying into the Pension means they start contributing to your Pension Account, so it starts growing in value again, instead of being frozen until you retire.
People believing the rumors that YRC is going to resume paying into the Pension are misguided. Maybe in some areas of the Country that could happen as each Pension Trust sets their own bylaws and regulations. But in the Western States Teamsters Pension Trust, once a company pulls out or goes suspended for failure to pay the monthly Contributions, the only way to get back in at a later date, is to pay ALL past due contributions, then it is up to the discretion of the Pension Trust members whether or not they will be allowed to re-join. Right now YRC doesn't have the money to accomplish that . But that doesn't mean you can't resume contributions into your account, if you change employers who are still signatory to the Pension provisions. A year or more of new contributions can change your ultimate monthly benefit- the sooner you change and the more months or years you intend to work, it really adds up.
People believing the rumors that YRC is going to resume paying into the Pension are misguided. Maybe in some areas of the Country that could happen as each Pension Trust sets their own bylaws and regulations. But in the Western States Teamsters Pension Trust, once a company pulls out or goes suspended for failure to pay the monthly Contributions, the only way to get back in at a later date, is to pay ALL past due contributions, then it is up to the discretion of the Pension Trust members whether or not they will be allowed to re-join. Right now YRC doesn't have the money to accomplish that . But that doesn't mean you can't resume contributions into your account, if you change employers who are still signatory to the Pension provisions. A year or more of new contributions can change your ultimate monthly benefit- the sooner you change and the more months or years you intend to work, it really adds up.