Serene Gene
TB Regular
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Really?I usually don't pay much attention to his post for that reason .
Really?I usually don't pay much attention to his post for that reason .
You lost me on that one Highspeeds, where do you get the one third of the original amount??? If you are saying that it's one third of the full pension that we would have gotten before it was cut and gut , I follow you. I don't count that. I am just looking at what the final numbers are after it was discontinued.The Con-way pension is locked away. You'll receive 1/3 your original entitled benefit for 60 months after you qualify. This isn't going to change. It's the cheapest way out for the company. Any unclaimed money is returned to the company.
You need to research that old Con-way money. You seem confused on it. There are no outside factors. It's boarded up and a dead deal.
https://www.bloomberg.com/news/arti...andit-charm-fades-as-truck-driver-hiring-lags
This an article posted by Fly by Night under another topic. I'm reposting it here to stay on topic and I want to point out two things that I take from it .
1) wages in the industry have degraded since deregulation and the departure from organized labor and no matter what tricks the companies try to lure drivers the bottom line lack of real compensation gain has hobbled the effort to hire drivers.
2) This a quote from the business friendly Bloomberg article that I thinks sums up our problem: " Raising salaries is another option, but it would cut into profit margins. The University of Pennsylvania’s Viscelli said companies would have to double driver pay -- now about $41,000 -- to reduce turnover. About 30 percent of new drivers quit in the first three months, according to Stay Metrics."
Ups package has no problems getting drivers at 36.77 an hour. Maybe if ltl wages had kept up with theirs we wouldn't have this problem. I know its hard for you guys that haven't been in the industry to realize that our hourly rate paralleled Ups packages at one time . The ltl pay stagnanted after deregulation and Ups marched ahead with decent increases and no loss of benefits. To attract drivers pay has to raise industry wide and customers will have to swallow the pill in rate increases.Even union carriers can't get drivers. YRC and ABF both have signs out and in big letters say "Company paid benefits". The simple fact is no one wants to do this job
The one big difference is you don't need a CDL to drive a package truck. Your hiring pool is a lot larger. You also need to look at there working conditions how many here could work like they do. Hell you should hear the bitching when someone gets an inside Del.Ups package has no problems getting drivers at 36.77 an hour. Maybe if ltl wages had kept up with theirs we wouldn't have this problem. I know its hard for you guys that haven't been in the industry to realize that our hourly rate paralleled Ups packages at one time . The ltl pay stagnanted after deregulation and Ups marched ahead with decent increases and no loss of benefits. To attract drivers pay has to raise industry wide and customers will have to swallow the pill in rate increases.
The industry wants something for nothing ( bare minimum) and unfortunately it's not working. I know there more complexity to this than I stated here but that's the basic Problem. We can chase an O/R of 80 but remember to get there you have to take out cost in the operation and where is that going to come from?
Agreed. A whole different animal, and not an accurate comparison.The one big difference is you don't need a CDL to drive a package truck. Your hiring pool is a lot larger. You also need to look at there working conditions how many here could work like they do. Hell you should hear the bitching when someone gets an inside Del.
You can say the pay stagnated durning deregulation, but you must admit the unions allowed to happen. They also had no choice since company after company was closing its doors.Ups package has no problems getting drivers at 36.77 an hour. Maybe if ltl wages had kept up with theirs we wouldn't have this problem. I know its hard for you guys that haven't been in the industry to realize that our hourly rate paralleled Ups packages at one time . The ltl pay stagnanted after deregulation and Ups marched ahead with decent increases and no loss of benefits. To attract drivers pay has to raise industry wide and customers will have to swallow the pill in rate increases.
The industry wants something for nothing ( bare minimum) and unfortunately it's not working. I know there more complexity to this than I stated here but that's the basic Problem. We can chase an O/R of 80 but remember to get there you have to take out cost in the operation and where is that going to come from?
I've been away from the board for a while. I've noticed something. In this post, from November of last year, Sucker666's grammar and punctuation wasn't that good. His recent post are much better. It's like he was playing the part of a dumb trucker and has since dropped the act. I wonder what's going on here?You see captain deadhead most of us are self made men on here and along with the others I work with we did not inherit a business are daddy built. We work very long hard days something a guy like you could not handle. So for you to come on here and pretend to be one of us and inject your skewed silver spoon in the mouth views is so transparent that your credibility is null. For you to arrive on the seen at xph and pretend to be something your not makes you stand out. Don't underestimate this. WE are honest hard working men and women that demand honesty and respect.
Thank you for the compliment. I am paying more attention to my grammar but it's far from perfect. The dumb trucker thing I'll let ride because it's not worthy of a response.I've been away from the board for a while. I've noticed something. In this post, from November of last year, Sucker666's grammar and punctuation wasn't that good. His recent post are much better. It's like he was playing the part of a dumb trucker and has since dropped the act. I wonder what's going on here?
I like my cheddar so sharp that it bites my tongue and crumbles when I cut it.I really do like got cheese and wine. Not sailing I leave that to others
Now I could start talking how much I love sharp cheese with a fine crafted beer..
I'm confused about The 1/3 of Pension you are referring to. My understanding is that you will draw what your total compensation package statement says if you meet the rule of 85 or you have 20 years of service and reach the age of 62. I have verified that with the Benefits Office a couple of years ago. Things could change but that is the last information I had on it. I still wonder if I would be better off to get my pension payment started or trying to wait until age 62 to get the full amount ??? It's a gamble either way.The Con-way pension is locked away. You'll receive 1/3 your original entitled benefit for 60 months after you qualify. This isn't going to change. It's the cheapest way out for the company. Any unclaimed money is returned to the company.
You need to research that old Con-way money. You seem confused on it. There are no outside factors. It's boarded up and a dead deal.
According to the plan documentation, it's still a 401k- which means it's still my money that will stay with me if I leave the company. The company has nothing to do with the management of the account and they don't control my personal contributions or how I allocate them.
A while back, some of the individual funds changed to trusts- it was a minor administrative change. The plan is still a regular old 401k retirement fund. The plan description is still on the portal for any of us to look at. I think someone got confused about what trust funds are and spread some rumors.
That's true, but who says I want to be? The stocks that have been picked for my account funds have given me a good return- I'm not going to pretend I can outsmart professional investors in the market.
This sounds like another misunderstanding. I read the pension plan summary, too, and it explicitly states that all options pay benefits to the employee until you die. The benefits can change for your beneficiary depending on the distribution you pick, and certain options can reduce your payout, but nothing in that document says you stop receiving your pension after 60 months.
Even union carriers can't get drivers. YRC and ABF both have signs out and in big letters say "Company paid benefits". The simple fact is no one wants to do this job
Ups package has no problems getting drivers at 36.77 an hour. Maybe if ltl wages had kept up with theirs we wouldn't have this problem. I know its hard for you guys that haven't been in the industry to realize that our hourly rate paralleled Ups packages at one time . The ltl pay stagnanted after deregulation and Ups marched ahead with decent increases and no loss of benefits. To attract drivers pay has to raise industry wide and customers will have to swallow the pill in rate increases.
The industry wants something for nothing ( bare minimum) and unfortunately it's not working. I know there more complexity to this than I stated here but that's the basic Problem. We can chase an O/R of 80 but remember to get there you have to take out cost in the operation and where is that going to come from?
The one big difference is you don't need a CDL to drive a package truck. Your hiring pool is a lot larger. You also need to look at there working conditions how many here could work like they do. Hell you should hear the bitching when someone gets an inside Del.
I'm confused about The 1/3 of Pension you are referring to. My understanding is that you will draw what your total compensation package statement says if you meet the rule of 85 or you have 20 years of service and reach the age of 62. I have verified that with the Benefits Office a couple of years ago. Things could change but that is the last information I had on it. I still wonder if I would be better off to get my pension payment started or trying to wait until age 62 to get the full amount ??? It's a gamble either way.