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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 would add that a year worked, regardless of the amount of the pension contribution, is credited as a year's service credit. The difference is in the monetary payout, not length of service.
 
albag said:
No one can because it is NOT true.........
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You are correct. I researched this to death trying to find this MOU and had no success. When I asked my BA about it, he stated that 1 year credit for 4 years worked was just an example used to help explain how the 25% contribution would affect the pension payout compared to full contribution rate.
 
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Steward of the Rock said:
You are correct. I researched this to death trying to find this MOU and had no success. When I asked my BA about it, he stated that 1 year credit for 4 years worked was just an example used to help explain how the 25% contribution would effect the pension payout compared to full contribution rate.
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Also, can’t find a single yes voter, nobody voted for neither of any of the M.O.U’s.
 
albag said:
I would add that a year worked, regardless of the amount of the pension contribution, is credited as a year's service credit. The difference is in the monetary payout, not length of service.
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Good explanation....that is how my fund does it too....I correct guys in my local when they say the 4 in 1 because it simply isn't true...I had a guy recently tell me it took YRC guys 20 years to get vested also....I felt like beating my head into the wall trying to explain it to him....
 
Steward of the Rock said:
You are correct. I researched this to death trying to find this MOU and had no success. When I asked my BA about it, he stated that 1 year credit for 4 years worked was just an example used to help explain how the 25% contribution would affect the pension payout compared to full contribution rate.
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Also, not to quibble, but to be honest, the contribution rate is presently a shade over 30% not 25%, based on the health funds kicking a little bit back to Central States from the $1.00 per hour increases for insurance we received under the previous contract. I'm not under Central States insurance , but I assume Central States health fund did as well.
 
flat top said:
Also, not to quibble, but to be honest, the contribution rate is presently a shade over 30% not 25%, based on the health funds kicking a little bit back to Central States from the $1.00 per hour increases for insurance we received under the previous contract. I'm not under Central States insurance , but I assume Central States health fund did as well.
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They did.
 
The Fund can't make it any clearer than this...


You Got It Ok GIF by Film Riot
 
flat top said:
Also, not to quibble, but to be honest, the contribution rate is presently a shade over 30% not 25%, based on the health funds kicking a little bit back to Central States from the $1.00 per hour increases for insurance we received under the previous contract. I'm not under Central States insurance , but I assume Central States health fund did as well.
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hey flat top when is holland milwaukee gonna merge over there by you?
 
Big block said:
hey flat top when is holland milwaukee gonna merge over there by you?
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They are going to wait till they lose more of their drivers at all the terminals. Between retirement and quitting for greener pastures when the numbers get real low it makes the merger easier.
Our road board has gone from 36 to 26 in a year and we merged during that year. We were suppose to get 10 guys from YRC and just a few months later we ended up with 3. I knew YRC guys would not enjoy Holland rules, especially the road guys working 6 days a week.
 
flat top said:
Not sure when .Seems like it would be quite a big mess if/ when it happens. I'm sure their factoring in attrition when it comes to the merger. If they aren't figuring loss of freight, they must have discovered a secret potion that wasn't available the first time around.
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i know a person in mgt at estes that said they are licking their chops when they can merger racine and milwaukee together at the holland terminal which estes leases to holland. estes in racine in the old roadway mud-hole terminal and old watkins in milwaukee. how many doors over by you that you guys really don't actually use?
 
muddog said:
People, I’m gonna beat a dead horse again, but since it’s on topic… If you want your FULL pension, apply elsewhere at a contributing fund employer, resign from your employment issue, and start new. It’s the only choice you have to acquire the full ride. There oughta be a new thread started about people who left company, to chase their full pension.. I know it’s frustrating, but damn people, quit bitching about the situation, and do something for yourselves, and your loved ones. Regardless, once again, good to all of y’all
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I wish I could do a year somewhere else but I can’t. Health issues took away my cdl license for ever , can’t drive a truck ever again and soon I will not be able to drive a automobile. So I live off 1034 dollars ( that I am thankful for) thank you Jesus and social security disability. Now that combined comes to what I would have received from full benefits from pension. Again thank you Jesus. One last thing as a yrc employee I was not diligent in fact checking what we were voting for and that’s on me . I never actually saw or was told we were giving away our pension . What I remember at that time was a vote to reject the contract and then a phone conference call from IBT telling us if we want our job revote and take the deal . Personally I think IBT wants nothing to do with multi employer pension any longer. They could have dropped the health benefits and kelp the pension in full, and then allow us to vote to pay into health benefits. I believe it was easier to skim monies from health and welfare sense it’s contracted with bcbs . It’s what I believe can I prove it ? No !
 
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