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Yellow | Pension payback

Steward of the Rock said:
To my understanding, they are asking for full pension credit for all of the years that their contract locked them in for the 25% pension contribution (1-year of credit for every four years worked). Because this was contractual from 2013 to current date, and it was agreed to by majority vote, all those years are considered paid in full as that is what the YRCW (companies) contract called for. Therefore, the Butch Lewis Act bail-out will not restore those years to full credit because contractually, those years were already paid in full by contract at the 25% rate. So, an employee that started at a YRCW company in say 2004 will have full pension contribution credit up to 2013 (I think), and only 25% pension contribution credit from 2013 to current date. Because it was contractually agreed to, the bail-out views this as the full contribution rate contractually paid in full. Which means there will not be any funds restored to full rate from 2013 to current date because of the contract agreement. This is my understanding of it. I disagree and think that the YRCW companies should get full credit for all of those years as their problems were created by their idiot leader at the time (Zollars), but none the less, that is my understanding of it.
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I agree with everything except the last part of your post. Everyone affected had a chance to vote on this. While I also agree that the CEO at the time made a huge error, the fact still remains that you chose to have a third party represent you, and one of the tenants of that choice was that everything was subject to a 50% + 1 person vote to agree or decline. Furthermore, while it may not have been practical or desirable for the menmber, you also had a choice of resigning if you did not agree with the outcome of the vote.

The ones I feel sorry for the most were YRCW’s non union workers. They had no vote, or voice in this decision, and were subjected to the unions “equal sacrifice”. I’m also aware that they had a choice to either organize or resign as well, but the fact still remains that they were forced to have these cuts because of a third party that did not represent them, forced this on them.

You can also see why they may be reluctant now to pursue representation, IMO.
 
ROLLBACK said:
Can you post a copy of the M.O.U stating, 1 year pension credit for every 4 years per the 25% contributions. Thanks.
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almost13ranch said:
The “one year for four years” is just another way of saying 25% per year from 2013. That’s all that was paid by YRC in your behalf. If you went to work for them after 2013, that was the contract you’re working under. If before, you had a chance to vote on the reduced amount contained in the MOU. This should really not come as a surprise.
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Ohh, it’s not a surprise to me, but for a guy who had 29 years, paid in , in 2013, and has worked till this this day , still only have 29 paid in years. Prove me wrong. I was wanting to know how this 4 for 1 come about?
 
ROLLBACK said:
O it’s not a surprise to me, but for a guy who had 29 years paid in 2013, and has worked till this this day , still only have 39 paid in years. Prove me wrong. I was wanting to know how this 4 for 1 come about?
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It’s been explained several ways on this thread, I’m at a loss as how you don’t understand it. If you’ve been working under a contract since you started, you were given an opportunity to vote on every contract and MOU that affected you. If you didn’t vote, then that’s on you. If you voted and didn’t research what the article you were asked to change, it’s also on you. You are not blameless here.
 
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almost13ranch said:
Oh, I don’t know, #13 seemed to be a pretty concise explanation.
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almost13ranch said:
No
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Steward of the Rock second sentence stated that it was contractual in #13, about the 4 for one. I asked for someone to post that (MOU) or something in writing from central states. I never read that anywhere, I’ve heard it said at the hall, never read it anywhere. I was just asking if someone had language on that to share it. From my understanding, we would only be made whole when YRC paid the unpaid 75% dating back to 2013. No butch lewis, no PBGR, etc, etc, etc…….that’s my understanding. How are we out of the MOU and 75% pension and 15% wage reduction hasn’t been restored…… beats me.
 
ROLLBACK said:
Your reply was #25, which number reply shows where central states agreed on a 4 for one 25% pension contributions?
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Central States does not have the option to agree or disagree. Central States Pension Fund has nothing to do with or anything to say about the amount any employer pays into the pension. Neither Central States nor any other pension fund is owned or operated by the Teamsters Union and is not a party to any labor agreement. The contract cannot and does not say anything about payouts. The contract only determines the amount paid in. There is no union pension. Payouts are determined by the fund. The amount paid out is an actuarial formula based on the contributions made on your behalf.
 
ROLLBACK said:
Steward of the Rock second sentence stated that it was contractual in #13, about the 4 for one. I asked for someone to post that (MOU) or something in writing from central states. I never read that anywhere, I’ve heard it said at the hall, never read it anywhere. I was just asking if someone had language on that to share it. From my understanding, we would only be made whole when YRC paid the unpaid 75% dating back to 2013. No butch lewis, no PBGR, etc, etc, etc…….that’s my understanding. How are we out of the MOU and 75% pension and 15% wage reduction hasn’t been restored…… beats me.
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Trust me I know, I pull my pension status report twice a year. No four for one for me.
 
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ROLLBACK said:
Steward of the Rock second sentence stated that it was contractual in #13, about the 4 for one. I asked for someone to post that (MOU) or something in writing from central states. I never read that anywhere, I’ve heard it said at the hall, never read it anywhere. I was just asking if someone had language on that to share it. From my understanding, we would only be made whole when YRC paid the unpaid 75% dating back to 2013. No butch lewis, no PBGR, etc, etc, etc…….that’s my understanding. How are we out of the MOU and 75% pension and 15% wage reduction hasn’t been restored…… beats me.
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Hello ROLLBACK. As I stated in post #13, this was my understanding of it. Your Local should be able to provide the MOU stating the 1 year credit for 4 years worked if there is one. I will try to some research to see if I can find anything on this MOU. Right now, I am leaving for work. Good day!!
 
Razorblade said:
Central States does not have the option to agree or disagree. Central States Pension Fund has nothing to do with or anything to say about the amount any employer pays into the pension. Neither Central States nor any other pension fund is owned or operated by the Teamsters Union and is not a party to any labor agreement. The contract cannot and does not say anything about payouts. The contract only determines the amount paid in. There is no union pension. Payouts are determined by the fund. The amount paid out is an actuarial formula based on the contributions made on your behalf.
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I agree with what you are saying. The only thing I would dispute is Central States could have told YRC they have to contribute the full amount or nothing. I believe the Western States Pension Fund did that and put the contributions into a 401k for the members.
 
ROLLBACK said:
Ohh, it’s not a surprise to me, but for a guy who had 29 years, paid in , in 2013, and has worked till this this day , still only have 29 paid in years. Prove me wrong. I was wanting to know how this 4 for 1 come about?
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My fund did the same. It takes 4 years of reduced pension payments to make 1 full year of contractual full pension payments. If you had 29 years in 2013 and are still working you should be credited with 31 years now if you worked the proper amount of hours.
 
ROADY said:
I agree with what you are saying. The only thing I would dispute is Central States could have told YRC they have to contribute the full amount or nothing. I believe the Western States Pension Fund did that and put the contributions into a 401k for the members.
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That is correct, I’ve heard of central states doing 4 for one, but haven’t seen any language on it, nor does it show on my pension status report.
 
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