Yellow | Yrc contributions to pension fund

The only thing the union would miss is the committee chairmanships and the COO trips to party locations.

1,400,000 members
-35,000 yrc members
__________
1,365,000 members

I think they would make it OK

The union might make it but YRC and ABF is the only one's paying into the retirement. YRC goes then ABF will have to cover all the current retirees. Doesn't sound like a good deal to me.
 
Is there even a couple of small companies that pay into the pension? Maybe the Teamsters union doesn't want to deal with pensions anymore?
 
Thanks Bossman. With 50 years under my belt in this industry, on both sides of the line, from having every Certificate, to, cleaning "honey pots", the internet has sure changed it.

The date on this is 4 days ago.

If I was sitting on the back line, rachet jawing on 15, 19, or 23: I might have gotten a hint, but wouldn't have understood it.

Maybe, just maybe, a copied page would have been found on a Bulletin Board somewhere out on the Plains, the Desert, or a Truckstop like "Carny, New Jersey" where nobody knows how to read.

I am deeply appreciative this was sent to me, I was Authorized by the U S Customs House, U S Border Patrol, to ship, or transport myself, any form of freight, as Shipping Manager, Crandon Wholesale Drugs, North Miami Beach, Florida: now a part of McKesson, Atlanta;

and I think I can speak for others as me that would have been left out of the loop:

This website is a Service beyond it's original intention. My thanks.

IT's KEARNY NJ WHERE PEOPLE KNOW HOW TO SPELL
 
Been with Yellow/YRC for 20 years and have not seen things so pathetically bad. First off don't take what I say as fact it's my personal opinion based on observation. Half of our barn did not get their checks yesterday, yes it could be a glitch because of the new system, don't know if I even got mine I'm afraid to look at my bank account. When I asked for the stub I was told I would get it at the end of the shift at the end of my shift they told me they couldn't find it, BS!!! Morale is low and not only are employee's pissed but customers are too, I'm not going to go into why customers are pissed I think we all know why. The pension not getting paid will be the next thing to add to our woes, after that who knows, H&W? or maybe another wage cut?

File your grievances for additional eight hours pay if you did not receive your check by the end of the day....
 
File your grievances for additional eight hours pay if you did not receive your check by the end of the day....
here in the southern you can stay on the clock till they pay you we did at cf once and they got us a draft real fast. they will do this every week till some of you stay and don't punch out just make sure you call your local b/a let them know that your going to do this the next time it happens :ranting2:
 
So let me get this right, NO payment to pension for 6 months that will mean a break in service I will lose one year ? I bet guys are lining up at the Halls to retire.
 
So let me get this right, NO payment to pension for 6 months that will mean a break in service I will lose one year ? I bet guys are lining up at the Halls to retire.

I could be wrong, but there will be no break in service, due to an agreement with the union on this. There is a clause in the contract for this. You will still get the credit for the time worked. The same way it is for going into the military and returning to the same job. no contributions and you get the retirement credits. Would you rather yrc go under? no contributions then and no credits either. This whole thing is a mess to be fixed somehow, I HOPE.
 
So let me get this right, NO payment to pension for 6 months that will mean a break in service I will lose one year ? I bet guys are lining up at the Halls to retire.

YRC Wants to Defer Pension Payments
April 10, 2009: YRCW has contacted some Teamster pension funds asking to defer for several months the company’s payment of pension contributions for Teamsters. This is according to IBT Freight Director Tyson Johnson, who says any deal like that must be negotiated with him.

The only good news here is that Teamster can rest assured it will not affect your pension credits. Thanks to court cases our members won years ago, all Teamster pension funds must give you credit for your time worked, even if the fund fails to collect employer payments required under the contract

YRC Wants to Defer Pension Payments | Teamsters for a Democratic Union
 
Hard Assets?

Not trying to be a Naysayer, but, wouldn't the pension funds be entitled to these hard assets anyway in the event of a bankruptcy situation?

I remember reading in other threads that the pension funds would have "first dibbs", so to speak,before the banks.

Just wondering if this was true or not?
 
I thought that it was just the opposite. That the pension funds would be in the back of the creditor line. The last to be paid if there was any money left.
 
I thought that it was just the opposite. That the pension funds would be in the back of the creditor line. The last to be paid if there was any money left.

Usually employees are the first in line to get paid from a bankruptcy. IDK if a pension fund is viewed in the same light to a BK judge.

If I understand correctly, once everything was divvied up in CF's bankruptcy their pension was paid about .35 on the dollar. However, if the funds are holding real estate as collateral a judge may well see them as a secured creditor and they wouldn't be entitled to any cash from the BK proceedings, just possesion of the properties in question.

The only thing that's certain is that this is a wet dream for the world's biggest crooks: bankers and lawyers. No matter what happens, everyone but Zollars and his cronies in the board room will get the shaft. You can bank on that.
 
Usually employees are the first in line to get paid from a bankruptcy. <snip>

I don't believe that's exactly true. High on the priority list in a bankruptcy are the taxes owed the governments and the lawyers fees for handling the bankruptcy. Only a small portion (first couple of thousand possibly) of individual employees wages are high priority, the balance of wages are fairly low on the list.
 
Secured Creditors - often a bank, is paid first.


Unsecured Creditors - such as banks, suppliers, and bondholders, have the next claim.


Stockholders - owners of the company, have the last claim on assets and may not receive anything if the Secured and Unsecured Creditors' claims are not fully repaid.
 
JUST REMEMBER 20 OUT OF THE LAST 28 YRS.WE HAVE HAD A REPUBLICAN PRESIDENT DO THE MATH YOURSELF. AND EVERYONE WONDERS HOW WE GOT INTO THE MESS WE ARE IN.GUESS WHO THE ONLY PRESIDENT WAS THAT LEFT OFFICE WITH A BUDGET SURPLUS.HINT IT WASN'T A REPUBLICAN.:TR10driving03:
 
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