ABF showed a profit. It would give me more of a sense of ownership in my retirement as well as the prosperity of my employer. It would also give me another vehicle to invest my money rather than send it to Washington in the form of TAXES! I saw my pension literally get cut in half at YRC, so trust me, anything can happen! That was the highest motivating factor for me to leave them and come to ABF, but ABF has proven to be a much better outfit completely. I know a pension buyout would greatly benefit the company, but I believe that would benefit all of us in the long run! And once those 401k accounts are legally distributed into the employees name, it belongs to the EMPLOYEE. If you leave the company, or the company leaves you, doesn't matter, it's your account, you own it! And at 59 and 1/2 you can start taking distributions from it without a tax penalty, you just pay regular income tax on it as you take it out, but you deducted the amount you put in while you were working reducing your taxes while you were contributing. It's a good deal if they can ever make it happen!
The Central States Pension Fund used to be a strong solvent fund, but it is no longer a place you want to invest money, so sad, but true. And now, YRCW has gotten this 25% contribution rate, and ABF is the only one paying the full bill. I can definitely see ABF's point of view, and personally agree with it.