Not trueAnyone hired after the birth of Christ has no pension in the Central.
Not trueAnyone hired after the birth of Christ has no pension in the Central.
If Congress ordered it, they'd have to. Dont hold your breath waiting for that to happen, tho.....Good luck to you, Western States will never allow.
Are you sure about that I think its even worse? My local fund told me I only accrue $7 dollars a year at 25% 2009 contribution rate. They are hoping for a bailout of Central States knowing it will be bankrupt 2024 in time for Presidential election make it a campaign issue!YRCW Teamster employees in Central States VOTED to freeze their contribution rate to a max of $106.55 a week for the next FIVE years. At a 1% a year accrual rate...participants will earn an accrued pension of $55.40 a year. They made the choice!
How much will the accrual be worth when central states is bankrupt in 5 years? I’m not real good at math so what’s 1% of 0.00?YRCW Teamster employees in Central States VOTED to freeze their contribution rate to a max of $106.55 a week for the next FIVE years. At a 1% a year accrual rate...participants will earn an accrued pension of $55.40 a year. They made the choice!
YRCW Teamster employees in Central States VOTED to freeze their contribution rate to a max of $106.55 a week for the next FIVE years. At a 1% a year accrual rate...participants will earn an accrued pension of $55.40 a year. They made the choice!
Relax buddy, it was a joke, we can get all serious in about four years and ten months, might as well try and enjoy watching those shiny sleeper trucks hauling all the long loads. They do go fast pulling the YRC loads, I had one pass my on the turnpike the other night and it was going so fast I was worried the bearings might catch fire or the wheels fall off. I wonder as time passes if some of those big riggers will become disenchanted with the YRC maintenance program when the spend hours on the side of the road? It is going to be a very interesting couple years coming up! I am so glad I can walk away anytime I want and go work somewhere else, it helps me sleep at night! Let the show begin....I'll bring the popcorn!Not true
Relax buddy, it was a joke, we can get all serious in about four years and ten months, might as well try and enjoy watching those shiny sleeper trucks hauling all the long loads. They do go fast pulling the YRC loads, I had one pass my on the turnpike the other night and it was going so fast I was worried the bearings might catch fire or the wheels fall off. I wonder as time passes if some of those big riggers will become disenchanted with the YRC maintenance program when the spend hours on the side of the road? It is going to be a very interesting couple years coming up! I am so glad I can walk away anytime I want and go work somewhere else, it helps me sleep at night! Let the show begin....I'll bring the popcorn!
YRC contribution to CSPF is frozen for 5 years at $106.55 a week x 52 weeks = $5540.06 x 1% = $55.40 a year accrual.Are you sure about that I think its even worse? My local fund told me I only accrue $7 dollars a year at 25% 2009 contribution rate. They are hoping for a bailout of Central States knowing it will be bankrupt 2024 in time for Presidential election make it a campaign issue!
Darren's response is....The agony of the yes voters now seeing the fruits of their daily labor in the form of bankrupt pension plans. If the recession hits this year what bag of tricks will you let yrc pop out on you ?
The question posted somewhere here is articulate and on point. How do you attract and maintain new hires and current employees with no pension ? Just a high fee self funded 401k. Darren can you explain to the masses what your plan is ?
In five to ten years when the fund has zero money left will the ABF guys be any better off than the YRC guys? IMO if you are not going to retire in the next few years the YRC guy is better off than the ABF guy because he is flushing less money down the toilet that he will never see. Am I missing something?YRC contribution to CSPF is frozen for 5 years at $106.55 a week x 52 weeks = $5540.06 x 1% = $55.40 a year accrual.
ABF Freight contribution to CSPF is and has been since 2011 frozen at $342.00 a week x 52 weeks = $17784.00 x 1% = $177.84 a year accrual. Call the fund if you need any further clarification.
I really think it's less than $55.40 for you in Central States? Well then were getting screwed here worse at 710 office told me we only get $7 dollars a year at current contribution rates.YRC contribution to CSPF is frozen for 5 years at $106.55 a week x 52 weeks = $5540.06 x 1% = $55.40 a year accrual.
ABF Freight contribution to CSPF is and has been since 2011 frozen at $342.00 a week x 52 weeks = $17784.00 x 1% = $177.84 a year accrual. Call the fund if you need any further clarification.
Relax buddy, it was a joke, we can get all serious in about four years and ten months, might as well try and enjoy watching those shiny sleeper trucks hauling all the long loads. They do go fast pulling the YRC loads, I had one pass my on the turnpike the other night and it was going so fast I was worried the bearings might catch fire or the wheels fall off. I wonder as time passes if some of those big riggers will become disenchanted with the YRC maintenance program when the spend hours on the side of the road? It is going to be a very interesting couple years coming up! I am so glad I can walk away anytime I want and go work somewhere else, it helps me sleep at night! Let the show begin....I'll bring the popcorn!
Yes you guys get paid less per hour and per mile. At least you guys should be at the same pay.In five to ten years when the fund has zero money left will the ABF guys be any better off than the YRC guys? IMO if you are not going to retire in the next few years the YRC guy is better off than the ABF guy because he is flushing less money down the toilet that he will never see. Am I missing something?
I was referring to the pension, but thanks for the reminder I had forgotten we are underpaid and underappreciated! :DYes you guys get paid less per hour and per mile. At least you guys should be at the same pay.
I’ve never had a job where I was overpaid.I was referring to the pension, but thanks for the reminder I had forgotten we are underpaid and underappreciated! :D
YRCW Teamster employees in Central States VOTED to freeze their contribution rate to a max of $106.55 a week for the next FIVE years. At a 1% a year accrual rate...participants will earn an accrued pension of $55.40 a year. They made the choice!
Darren's response is....
Executive Profile*
Darren D. Hawkins
CEO & Director,YRC Worldwide Inc.
Age 48 Total Calculated Compensation $4,425,681 As of Fiscal Year 2018. This person is connected to 61 board members in 2 different organizations across 2 different industries.
See Board Relationships
Background*
Mr. Darren D. Hawkins has been the Chief Executive Officer of YRC Worldwide Inc. since April 30, 2018. Mr. Hawkins has been Director of YRC Worldwide Inc. since July 30, 2018. Mr. Hawkins served as President and Chief Operating Officer at YRC Worldwide Inc. from January 1, 2018 to April 30, 2018. Mr. Hawkins served as President of YRC Freight since February 27, 2014 until December 2017. He is a Member of the American Transportation Research Institute Board of Directors since 2018. Mr. Hawkins served as the Senior Vice President of Sales & Marketing at YRC Freight Inc. since January 14, 2013. He had an 18-year career at YRC Freight and served in a number of roles including director of field sales, Service Center Manager and Account Executive. Mr. Hawkins served for four years at Con-way in a major operations role before rejoining YRC Freight in January 2013. He has more than 28 years of experience in the national LTL industry in both operations and sales roles. He began his career as a dock supervisor at then Yellow Freight in Memphis, Tennessee and rose through the ranks in a variety of sales and operations roles. Mr. Hawkins worked at Yellow Freight from 1991 to 2009 and Con-way Freight from 2009 to 2012 before returning to YRC Freight in 2013. He has been a Director of American Transportation Research Institute since February 2018. Prior to this, he served as Director of operations and Director of sales at Con-way Freight. He serves on the school's Marketing and Supply Chain Advisory Board. Hawkins earned a bachelor's degree in business administration in marketing and supply chain management from the University of Memphis.
https://www.bloomberg.com/research/stocks/people/person.asp?personId=226162174&privcapId=192089