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Yellow | YRCW Terminated From Central States Pension Fund

Jeff

Jeff

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well all i can say is goodbye YRC!!! the only reason i accepted this job was for the pension and medical benefits, since they will have neither, i guess now its time to move on!
 
What the HELL??? So this means that if the concession vote is voted yes, we are not getting any pension contributions. And if the concession vote is voted no, we are not getting any pension contributions. Clearly we are so behind on our pension payments that they terminated our existence in the fund until YRCW gets more financially stable. Don't hold your breathe.:ranting2:
 
Don't panic. They are only making it official..YRC didn't pay in so the fund must terminate them until payments are resumed
 
Prediction, if we stay in business without YRCW
Paying into the funds the government will take over
The funds under the PBGC. Every retiree will get
35 cents on the dollar. CSPF was only 65% funded as
Of the report two months ago. Look on the positive
Side we will a union job at non union wages
A if the government takes over the pension its
a permanent take over. So no pension either.
 
And I thought we were supposed to vote on this? Looks like the decision has already been made, and WE GET SCREWED!
 
It appears as if the fund has taken it upon themselves, (with or without a final vote) to enact this suspension based on past dialogue, and will only reinstate after payments have resumed and are caught up......good luck to everyone......maybe it's not a bad idea to get out now if you can.....
 
This is not "new" news, it's just stating it's position and making official that YRC hasn't paid into the fund.... Where have you all been???
 
My hat goes off to Jeff and Truckingboards for this Information........How come the IBT will not release this information on a timely manner?.......Anyway, if I need important information I log onto Truckingboards.....nuff said........:TR10driving03:
 
electraglideatl said:
My hat goes off to Jeff and Truckingboards for this Information........How come the IBT will not release this information on a timely manner?.......Anyway, if I need important information I log onto Truckingboards.....nuff said........:TR10driving03:
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It's not me,it the people who work with me, I just convert it from PDF so so those who don't know much about computers can read it.

But thanks for the shout out to Truckingboards, the more people, the more info (more bs too)
 
As of July 1st 2009 it was disclosed YRCW had been paying into CSPF up until then.
This is new news revealed at Local 41's meeting saturday.
It is my understanding this constitutes a default status.
The powers that be can make all the deals they want.
However CSPF has over 200,000 retirees. If they
where just drawing 2000 a month times 18 months. Do the math.
All where doing is continuing to deplete a under funded pension fund.
So either the government takes it over. Or these funds will
have to cut retirees benefits. Then let the law suits begin.
 
This is just making official what is already known. I am curious about one thing. Why do the "fund rules" not allow for self payments? If I were CSPF, I would want self payments, at least until Jan 2011. Someone help me out with this. DS.
 
Docksteward said:
This is just making official what is already known. I am curious about one thing. Why do the "fund rules" not allow for self payments? If I were CSPF, I would want self payments, at least until Jan 2011. Someone help me out with this. DS.
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DS I think it is one more roadblock to collecting the prize. Leting you get closer to colecting is not worth the few contibutions you would add.

Ps My guess is the only ones that would contibute would be the "ALL MOST THERES" so my 10,000 in self contibutions would be used up at a rate of 36,000 per year (approx figures) and the fund would not be able to use your money to invest.
 
Call the IBT and your Local's and demand a payoff, 8 too 10 thousnad afor a year of service! This is your retirement! get some balls and be heard. We have to do this or we all will be buying our food at the dollar store!
 
wolf said:
DS I think it is one more roadblock to collecting the prize. Leting you get closer to colecting is not worth the few contibutions you would add.

Ps My guess is the only ones that would contibute would be the "ALL MOST THERES" so my 10,000 per year in self contibutions would be used up at a rate of 36,000 per year (approx figures) and the fund would not be able to use your money to invest.
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Hey wolf............that's kinda what I was thinking. Lots of guys would be paying up their last few months and getting out. I just feel sorry for the guys that have 6 months or so and have to wait until half way through 2011 to get credit for those missing 6 months. And that's only if YRCW starts making payments again!! DS.
 
Somebody explain to me this. If we have over 200,000 retirees
drawing over $2000.00 a month times 18 months of
YRCW paying in no contributions. That's a depletion
of an estimated 100,000,000. Out of a fund that reported
A 65% funding with YRCW contributions. I know there
is a percentage point the government has the legal obligation
to take it over. Yet we have people that think a yes vote
will sabe our pensions. Not if the government takes it over during
the 18 months. Which I believe it will happen. Just
something to think about.
 
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