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Pitt-Ohio | Unionization of Pitt

realityofitall said:
401k is not the same as profit sharing. need to be at pitt for 6 years to be 100% vested in the profit sharing.
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Many employers have a 5 year vesting period to keep 100% contributions to retirement plans. I think that sucks but it's a common practice. I've never heard of a traditional pension plan that didn't have at least a 5 year vesting period before retirement benefits were locked in. I've seen a few where it was a 10 year vesting period before anything was locked in.
 
Hammel's Express.

I know a lot of the smaller family owned nmfa companies basically wound down their union effort, and restarted under a new name.

Another one in the same area is/was B&L motor freight, which is now non union, and known as "truck one".
 
sabresfan said:
Many employers have a 5 year vesting period to keep 100% contributions to retirement plans. I think that sucks but it's a common practice. I've never heard of a traditional pension plan that didn't have at least a 5 year vesting period before retirement benefits were locked in. I've seen a few where it was a 10 year vesting period before anything was locked in.
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But with a 401k you get to keep all of the $$$$
I have a friend who was in a union pension, no married partner, after 32 years of working his estate only received 5 years of payments.
Had that been a 401k his estate would have kept all of the contributions, matching contribution and growth.
 
Anchor5 said:
Can you explain Pitt Ohio’s profit sharing program?
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6% of your previous years earnings are deposited into 401k once a year. Usually in February or March from my understanding. It has gone down to 4% during really tough economic times but mostly everyone was cutting back at that time to remain in business. It's really just a 401k percentage match.
 
sabresfan said:
6% of your previous years earnings are deposited into 401k once a year. Usually in February or March from my understanding. It has gone down to 4% during really tough economic times but mostly everyone was cutting back at that time to remain in business. It's really just a 401k percentage match.
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So is that in addition to a 401k match? If so what is the 401k match?. Thank you
 
sabresfan said:
6% of your previous years earnings are deposited into 401k once a year. Usually in February or March from my understanding. It has gone down to 4% during really tough economic times but mostly everyone was cutting back at that time to remain in business. It's really just a 401k percentage match.
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It went down for a few years when all companies were struggling, some froze wages while Pitt went this route. It’s been back up to 6% for at least 3-4? years if not longer.
 
Can you explain the no retirement? I haven't worked at Pitt since 2022 but when I left I had a 401K and profit sharing.

I run into my old coworkers at customers and they are making so much money none of them want to leave. Ran into a linehaul driver at the gym last week and he made $120K last year.

I work for a private fleet now and could never go back to LTL but do you think we get raises every May? Nope.
 
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