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XPO | Update on XCO

nobodyinparticular said:
Just arrived home from our meeting. We had a very nice turn out. Thanks to all who attended. One topic that came up was the Central States Pension plan. We DO NOT have to be in that pension fund. They will negotiate with whatever pension fund we choose or we could just stay with the 401k we have now. They would just make sure that its negotiated in the contract that our 401k go to back to what it was and that it stays there for the duration of the contract. We know this was an important topic for several people.
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did more come off fence and sign cards today
 
BusterNite said:
Yes we have a seperate UPS Pension protected by our contract.
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Keep in mind, when we were Overnite Transportation, we also had a separate Pension plan and when UPS purchased Overnite they gained control of the pension funds and then it became the UPS Pension plan which later became controlled by UPS and overseen by the Teamsters and protected by our contract.
 
Hey nobody, any idea where you guys are at right now because I think once the other terminals see that this thing is possible all hell will break loose and I don't think they will be able to stop it! especially when you can start your own pension fund.I think the CENTRAL STATES FUND scares alot of people hey keep us all posted & keep up the fight!
 
BusterNite said:
Keep in mind, when we were Overnite Transportation, we also had a separate Pension plan and when UPS purchased Overnite they gained control of the pension funds and then it became the UPS Pension plan which later became controlled by UPS and overseen by the Teamsters and protected by our contract.
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Ours was frozen. So it's probably be protected by a freezer right now.
 
:shit:bird said:
Hey nobody, any idea where you guys are at right now because I think once the other terminals see that this thing is possible all hell will break loose and I don't think they will be able to stop it! especially when you can start your own pension fund.I think the CENTRAL STATES FUND scares alot of people hey keep us all posted & keep up the fight!
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Our local wants us to keep the number quiet. Screw it. I feel we have to tell something. We have our 50% + 1. We want more. Understand, we have 165+ DSRS and dock workers here. Our mountain is a little higher to climb than others. Other terminals are also doing very well with this. We need everyone to get rolling! Especially in the South! C'mon you guys are getting screwed harder than anyone. What are you waiting for? To everyone standing with us, DO NOT STOP! DO NOT LET THIS DIE!

Lets open the flood gates. They can't stop us all.
 
nobodyinparticular said:
Our local wants us to keep the number quiet. Screw it. I feel we have to tell something. We have our 50% + 1. We want more. Understand, we have 165+ DSRS and dock workers here. Our mountain is a little higher to climb than others. Other terminals are also doing very well with this. We need everyone to get rolling! Especially in the South! C'mon you guys are getting screwed harder than anyone. What are you waiting for? To everyone standing with us, DO NOT STOP! DO NOT LET THIS DIE!

Lets open the flood gates. They can't stop us all.
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were on board in ltu... we will not be discriminated by our Conference any more. We are all CONWAY FREIGHT . The cards ARE getting signed
 
beerfd said:
The govt. started making these companies guarantee the pension, that's why they stopped contributing to it.
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Thats right. I'm pretty sure what is guaranteed is what the company put in since then and of course what you have put in. But what the company put in before is not they can take it out and use it for what ever they want.
 
AreWeThereYet said:
Thats right. I'm pretty sure what is guaranteed is what the company put in since then and of course what you have put in. But what the company put in before is not they can take it out and use it for what ever they want.
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They just said today they contributed something like 60 mil. to it or something like that. I was half asleep. lol too early on mondays. They have to keep it current for the employees that have a stake in it.
And also, I have never put anything into the pension. It was all company. I only contributed to the 401
 
beerfd said:
They just said today they contributed something like 60 mil. to it or something like that. I was half asleep. lol too early on mondays. They have to keep it current for the employees that have a stake in it.
And also, I have never put anything into the pension. It was all company. I only contributed to the 401
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It was $98M last year and $60M this year to keep it fully funded for those that were eligible when the pension froze in 2006. It stopped growing at that point, you get what you had on that date.
 
RoadRage76 said:
It was $98M last year and $60M this year to keep it fully funded for those that were eligible when the pension froze in 2006. It stopped growing at that point, you get what you had on that date.
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That's it. That is what was said. I remember now. Thanks.
 
They have to keep putting in money for the management's pension fund. Plus, if I remember right they have to fund CF's pension.
 
Dodge Ram said:
They have to keep putting in money for the management's pension fund. Plus, if I remember right they have to fund CF's pension.
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I think thats right. When the time comes I'll be taking my pension in a lump sum. Sucks to have money sitting idle not making any gains. For some reason I cant grasp why they claim to be putting in so many millions when everyones pension is frozen and a lot of people will only get very small payouts. Me for example I estimate I'll be somewhere in the neighborhood of 20k minus taxes. I was less than 10 years in before the big freeze. They must have big time obligations or I suspect were way behind and had to play catch up. Maybe a lil bit of both. As a side note things are eerily quiet in my area. XCO still making progress?
 
I tried to cash in.....apparently too much money for me to cash out per Portland. I was told no. I had the same idea about investing it.
 
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