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Yellow | YRC Pension & Central States

The law permits pension plans in critical status to reduce, or even eliminate, benefits called “adjustable benefits” rehabilitation plan. The Fund offers early retirement subsidies, disability benefits (not yet in payment) and death benefits other than the Qualified Survivor benefits which are considered “adjustable benefits”. The Trustees did eliminate some “adjustable benefits” as part of the current rehabilitation plan. If the Trustees determine that further benefit reductions are necessary, you will receive a separate notice in the future identifying and explaining the effect of those reductions. Any reduction of adjustable benefits will not reduce the level of a participant’s basic benefit payable at normal retirement. For participants and beneficiaries who were already drawing a monthly pension on January 15, 2009, that pension benefit continues to be a protected benefit, which may not be altered or modified in any way.

In an effort to improve the Pension Fund’s funding situation, the Trustees adopted a Rehabilitation Plan on January 15, 2009. The Trustees extended the effective date of the Rehabilitation Plan through December 31, 2010. Participants who leave covered employment before they are eligible to retire immediately must wait until age 64 (normal retirement date) to draw their pension. All contracts renewed or extended in 2008, 2009 and 2010 comply with the Preferred Option. The Trustees may implement an updated Rehabilitation Plan during 2011.
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http://www.nettipf.com/pdf_files/criticalnotice2011.pdf

This a NE Fund notice..if it's legal in New England..it's legal

save on lawyers fees..don't see one​
 
I am a YRC Driver in another fund. Why are YRC employees getting the shaft and people that never worked here not affected. I am sure their employers contributions ran out long ago. Yet our guy's suffer and are screwed! Who would EVER go into a Pension plan set up like these?
 
bootleg707 said:
I am a YRC Driver in another fund. Why are YRC employees getting the shaft and people that never worked here not affected. I am sure their employers contributions ran out long ago. Yet our guy's suffer and are screwed! Who would EVER go into a Pension plan set up like these?
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Probably cause we voted to quit paying is the only reason I got. In reality its probably due to sheer numbers of people involved and nothing more.
 
Excuse me..we didn't vote to quit paying into pension fund.we voted for paycuts.the trustees said that yrc couldn't make the.payments.so the trustees are guiding the funds
 
Had the non payment into pension fund been done before all the paycuts.I doubt if anyone would've voted yes for pay cuts..I guess that's why it was saved for last
 
wolf said:
Probably cause we voted to quit paying is the only reason I got. In reality its probably due to sheer numbers of people involved and nothing more.
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Wolf is right. The IBT did not give much notice that the pension funds would be attached to the give back. But some did post that it would be part of the vote. I agree it was a shady way to do what they did. But remember all that was really said was vote yes or close the doors. YOUR BROTHER ALWAYS!
 
i think abf is paying over $8.00 an hour into the pension fund. 25% would be over $2.00 an hour. they are paying in less than $2.00 an hour. keep up the good work hoffa.
 
bigtruk_us said:
Excuse me..we didn't vote to quit paying into pension fund.we voted for paycuts.the trustees said that yrc couldn't make the.payments.so the trustees are guiding the funds
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An 18 month suspension on pension payments was something we voted on. It's true that YRC claimed they'd end up shuting down if they had to keep up with the payments but ultimately we, the majority of drivers and dockworkers, ok'd the whole thing.
 
bigtruk_us said:
Excuse me..we didn't vote to quit paying into pension fund.we voted for paycuts.the trustees said that yrc couldn't make the.payments.so the trustees are guiding the funds
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Your gonna have to explain this post....your saying we didn't vote on pension cessations??
 
bigtruk_us said:
Excuse me..we didn't vote to quit paying into pension fund.we voted for paycuts.the trustees said that yrc couldn't make the.payments.so the trustees are guiding the funds
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Hope this jogs your memory ! See #4
yrcmou1.png
 
I was under the same understanding that anything we earned could not be changed. I asked that question when we had our meeting in Detroit and the gentleman from Central States explained the pension protection act of 2006 changed it. They can now go back and deduct money from anything earned. The pension protection act wasn't meant to protect us it was meant to protect the fund. Thanks again George.
 
Wolverine 65 said:
I was under the same understanding that anything we earned could not be changed. I asked that question when we had our meeting in Detroit and the gentleman from Central States explained the pension protection act of 2006 changed it. They can now go back and deduct money from anything earned. The pension protection act wasn't meant to protect us it was meant to protect the fund. Thanks again George.
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Actually, protecting the Fund IS protecting you, and All of us. If the Fund goes broke, what good is it?
 
Harleywideglide...I'll send you a pm as soon as I dig out the phone number for a high level executive at Central States who will give
you a straight answer to your question about your pension benefit. He has helped me a lot in the past, and he WILL follow up with
your answer in writing if you ask him to. You might not like what he tells you, but he will give it to you straight...no chaser or spin!
 
why couldnt they have just been honest from the beginning. instead of telling every 1 they didnt know what would happen if they stopped paying..........
nothing but chaser and spin.
I KNOW WHY.... had they told the truth many more would of voted no. then both sides would of had to work harder to keep this place alive instead of just sponging off the union workers..
and look at all the monthly dues that they saved by running that scam on its brothers.
 
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Freightmaster1 said:
Harleywideglide...I'll send you a pm as soon as I dig out the phone number for a high level executive at Central States who will give
you a straight answer to your question about your pension benefit. He has helped me a lot in the past, and he WILL follow up with
your answer in writing if you ask him to. You might not like what he tells you, but he will give it to you straight...no chaser or spin!
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My only thought is why does it take a high level executive to give US a honest correct answer? Don"t THEY work for US? What am I missing here?
 
they all need to be reminded that they do work for us,,,,,,, most locals ive seen in this date and time make more side $ from the company than the do get pay for their jobs though.... imo
 
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