Yellow | Pension payback

multiplier works like this, 10 years vested in the fund at a $10 multiplier means that if you retire, you get 100 per month for a pension. A 90 dollar multiplier means 900 monthly for 10 years service. Sub-ten dollars is the yrc/yellow multiplier rate. this is why we hire drivers fired from multiple companies, and addicts and felons on the dock, the pension is not important to them.
 
multiplier works like this, 10 years vested in the fund at a $10 multiplier means that if you retire, you get 100 per month for a pension. A 90 dollar multiplier means 900 monthly for 10 years service. Sub-ten dollars is the yrc/yellow multiplier rate. this is why we hire drivers fired from multiple companies, and addicts and felons on the dock, the pension is not important to them.
I thought we were currently getting approximately 59 per year? I guess that would be a 59 dollar multiplier? I know when I ran my numbers through that program online that Central States has it came out better than I thought....but my expectations were quite low to start with!
 

TEAMSTER FREIGHT MEMBERS RATIFY YRCW JOB SECURITY PLAN​


January 8, 2009
Agreement Will Protect Union Workers’ Jobs, Benefits
(Washington, D.C.) – Teamster members who work at the freight companies of YRC Worldwide Inc. (YRCW)—Yellow, Roadway, Holland and New Penn—have approved a plan that will protect the jobs and retirement security of tens of thousands of Teamsters. The modifications were ratified by a 77 percent to 23 percent margin, with more than 75 percent of members casting ballots.
Union members voted over the past month and ballots were counted today. The plan calls for a reduction in gross wages and mileage rates of 10 percent—that took effect when all the ballots were counted today—through March 31, 2013, plus suspension of a cost-of-living adjustment. The wage reductions apply to all bargaining unit and non-bargaining unit workers, including management. There is no change to any health, welfare and pension contributions.
“While we never want to see wage reductions, this vote shows that our members understand that we are facing the worst economy since the 1930s and that the company needs some help to get through this difficult period,” said Tyson Johnson, Director of the Teamsters National Freight Division. “We are hopeful that this agreement will protect the livelihoods of our members and their families by protecting the jobs and health, welfare and pension benefits of our freight members.”
The plan has a provision that will allow Teamster members to recover lost wages if YRCW’s stock price goes up in the future. This would be done through warrants, which are similar to stock options. In addition, union members have protections, including language on monitoring and enforcement rights.
 

TEAMSTER FREIGHT MEMBERS RATIFY YRCW JOB SECURITY PLAN​


January 8, 2009
Agreement Will Protect Union Workers’ Jobs, Benefits
(Washington, D.C.) – Teamster members who work at the freight companies of YRC Worldwide Inc. (YRCW)—Yellow, Roadway, Holland and New Penn—have approved a plan that will protect the jobs and retirement security of tens of thousands of Teamsters. The modifications were ratified by a 77 percent to 23 percent margin, with more than 75 percent of members casting ballots.
Union members voted over the past month and ballots were counted today. The plan calls for a reduction in gross wages and mileage rates of 10 percent—that took effect when all the ballots were counted today—through March 31, 2013, plus suspension of a cost-of-living adjustment. The wage reductions apply to all bargaining unit and non-bargaining unit workers, including management. There is no change to any health, welfare and pension contributions.
“While we never want to see wage reductions, this vote shows that our members understand that we are facing the worst economy since the 1930s and that the company needs some help to get through this difficult period,” said Tyson Johnson, Director of the Teamsters National Freight Division. “We are hopeful that this agreement will protect the livelihoods of our members and their families by protecting the jobs and health, welfare and pension benefits of our freight members.”
The plan has a provision that will allow Teamster members to recover lost wages if YRCW’s stock price goes up in the future. This would be done through warrants, which are similar to stock options. In addition, union members have protections, including language on monitoring and enforcement rights.
2009
 
I thought we were currently getting approximately 59 per year? I guess that would be a 59 dollar multiplier? I know when I ran my numbers through that program online that Central States has it came out better than I thought....but my expectations were quite low to start with!
At Central States we have a 1% accural. So they presently contribute 21.30 per day . 21.30 x 5 =106.50. 106.50 x 52=5538 or 55.38 per month per year accural. Pretty sure that is how it works .
I thought we were currently getting approximately 59 per year? I guess that would be a 59 dollar multiplier? I know when I ran my numbers through that program online that Central States has it came out better than I thought....but my expectations were quite low to start with!
 
At Central States we have a 1% accural. So they presently contribute 21.30 per day . 21.30 x 5 =106.50. 106.50 x 52=5538 or 55.38 per month per year accural. Pretty sure that is how it works .
Thank You...it sounds like you know what you are talking about!
 

TEAMSTER FREIGHT MEMBERS RATIFY YRCW JOB SECURITY PLAN​


January 8, 2009
Agreement Will Protect Union Workers’ Jobs, Benefits
(Washington, D.C.) – Teamster members who work at the freight companies of YRC Worldwide Inc. (YRCW)—Yellow, Roadway, Holland and New Penn—have approved a plan that will protect the jobs and retirement security of tens of thousands of Teamsters. The modifications were ratified by a 77 percent to 23 percent margin, with more than 75 percent of members casting ballots.
Union members voted over the past month and ballots were counted today. The plan calls for a reduction in gross wages and mileage rates of 10 percent—that took effect when all the ballots were counted today—through March 31, 2013, plus suspension of a cost-of-living adjustment. The wage reductions apply to all bargaining unit and non-bargaining unit workers, including management. There is no change to any health, welfare and pension contributions.
“While we never want to see wage reductions, this vote shows that our members understand that we are facing the worst economy since the 1930s and that the company needs some help to get through this difficult period,” said Tyson Johnson, Director of the Teamsters National Freight Division. “We are hopeful that this agreement will protect the livelihoods of our members and their families by protecting the jobs and health, welfare and pension benefits of our freight members.”
The plan has a provision that will allow Teamster members to recover lost wages if YRCW’s stock price goes up in the future. This would be done through warrants, which are similar to stock options. In addition, union members have protections, including language on monitoring and enforcement rights.
That part!!!!
 
At Central States we have a 1% accural. So they presently contribute 21.30 per day . 21.30 x 5 =106.50. 106.50 x 52=5538 or 55.38 per month per year accural. Pretty sure that is how it works .
You may be right, but I am pretty sure they dropped the 1% accrual rate to .0075% accrual rate four or five years ago. I know that is the case for ABF in Central States anyway. $342.00 weekly X 52 weeks = $17,784.00 X .0075% = $133.38 per year credit. Again, this is for ABF in Central States. Unless it has recently changed.
 
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I guess it is different accrual for Yellow. Thanks for posting that info in the picture.
I'm not real good at math....would 1% accrual rate of 25 percent or .75 percent of 100 percent be better? Something tells me ABF is still miles ahead in this! Oh well I bet them guys can't damage freight, wreck equipment, tell supervisors to F**K OFF, show up late or not at all, and not get reprimanded! Life is Goood!
 
I'm not real good at math....would 1% accrual rate of 25 percent or .75 percent of 100 percent be better? Something tells me ABF is still miles ahead in this! Oh well I bet them guys can't damage freight, wreck equipment, tell supervisors to F**K OFF, show up late or not at all, and not get reprimanded! Life is Goood!
T5T, with the difficulty ABF is having hiring people with CDL’s, it is no different over here either. You can pretty much get away with anything short of murder at the moment. And, I hope you did not think I was complaining about the accrual difference. I thought that when they changed the accrual from .01% to .0075% a few years back, that it applied to everyone in the Central States pension. If it sounded like I was complaining about it, I apologize.
 
T5T, with the difficulty ABF is having hiring people with CDL’s, it is no different over here either. You can pretty much get away with anything short of murder at the moment. And, I hope you did not think I was complaining about the accrual difference. I thought that when they changed the accrual from .01% to .0075% a few years back, that it applied to everyone in the Central States pension. If it sounded like I was complaining about it, I apologize.
No buddy, not at all! Every company has its own master agreement these days. I was just reading about the UPS cost of living raise they are getting, if inflation keeps going like its been were all going to wish we had that!
 
You may be right, but I am pretty sure they dropped the 1% accrual rate to .0075% accrual rate four or five years ago. I know that is the case for ABF in Central States anyway. $342.00 weekly X 52 weeks = $17,784.00 X .0075% = $133.38 per year credit. Again, this is for ABF in Central States. Unless it has recently changed.
No. He's right it's 1%.I checked with central states.
 
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