TForce | Pension plan notice?

I’d say TForce Freight is looking to drop the pension and go solely to a 401K.
That would have to be negotiated, contract spells out pension pretty well.
It will be a powerful tool in the contract deal coming up soon. Going to be a few unpopular proposals coming up. IMHO of course..
 
"You can trade in that pesky pension (that probably won't even EXIST in 20 years) for this nice, crisp EXTRA BUCKAROONY an hour...IN ADDITION to all the other pay and benefits we already give you!"

And it sounds like I'm joking, but companies have literally broken their unions just by offering an extra dollar an hour to non-union employees.

Inspiring.
 
"You can trade in that pesky pension (that probably won't even EXIST in 20 years) for this nice, crisp EXTRA BUCKAROONY an hour...IN ADDITION to all the other pay and benefits we already give you!"

And it sounds like I'm joking, but companies have literally broken their unions just by offering an extra dollar an hour to non-union employees.

Inspiring.
The pension for it's greatest share is under ups. Tfi liability only started in April 22'.
 
All I can find on this is

While similar, the main difference between 401(a) and 403(b) plans is often eligibility and plan design. 401(a) plans allow employers to require enrollment for eligible workers and set contribution models—but employers must also contribute to these plans. 403(b) plans, on the other hand, make enrollment voluntary.

The photo says 403(a), but I think that's a typo. I don't find anything on IRS section 403(a).
 
Maybe you guys are gonna be eligible for a voluntary 401k plus your TForce pension. At Preston and Holland there was a Teamsters 401k. Company didn't match anything.
 
Do not negotiate your pension away Period! Believe me after 20-30 years of working freight your body will want to retire as early as possible. Without a Pension this will be nearly impossible for you to do. Take it from me, after 30 years with Overnite/UPSF retiring at 60 years old would not have been possible without a pension. Loving retirement!
 
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