Yellow | Pension Question Please

[LEGCHECK53]

Question Please Brothers and sisters i had 30 yrs vested not old enought to retire yet i got a job with a small trucking company that pays full money into the pension with no cap limit on the amount of years you can work manager says i only have to work 1 year to get back my pension to the full rate i don't know if that is true or not it is central states he had one man last year retire with 44 yrs and he gets 4400 a month i hope this is right what he said this is kind of hard to understand since yellow did not pay the full amount all these years thanks for your help hope every one finds something better out there.

 

[dokman]

You can log onto CS web site and get projections. You will get a bump but not to full rate. Rules are you need a total of 40 weeks in 2 calendar years 20 in one year and 20 in next. All the years at yellow hurt us especially the older guys. Young guys can gain some of it back if they get full pay in.

 

[Jaloc]

So how much is no longer being contributed to all the pension funds now that Yellow closed? 22,000 x $125 x 52 = $143 Million

 

[BIG R GUY]

Question Please Brothers and sisters i had 30 yrs vested not old enought to retire yet i got a job with a small trucking company that pays full money into the pension with no cap limit on the amount of years you can work manager says i only have to work 1 year to get back my pension to the full rate i don't know if that is true or not it is central states he had one man last year retire with 44 yrs and he gets 4400 a month i hope this is right what he said this is kind of hard to understand since yellow did not pay the full amount all these years thanks for your help hope every one finds something better out there.

Just call DesPlaines, Ted. These people answer the phone, and your questions. Or if you don’t have an account, start one and email them a question. They answer them too, usually within 48 hours.

 

[dokman]

Just call DesPlaines, Ted. These people answer the phone, and your questions. Or if you don’t have an account, start one and email them a question. They answer them too, usually within 48 hours.

So how much is no longer being contributed to all the pension funds now that Yellow closed? 22,000 x $125 x 52 = $143 Million

There are only around 10k to 11k in central state’s. The rest are scattered over the other funds. Guys retiring prior to 65 will be less strain on the fund.

 

[mysticobra]

Get an account.
You can calculate it yourself.
It's easy. But you need an account first.
I retired at 62. Central states. Took the cut.
32 years. We here in CS don't get a full pension anyway so I didn't lose much going early.

 

[SHOTGUN716]

Question Please Brothers and sisters i had 30 yrs vested not old enought to retire yet i got a job with a small trucking company that pays full money into the pension with no cap limit on the amount of years you can work manager says i only have to work 1 year to get back my pension to the full rate i don't know if that is true or not it is central states he had one man last year retire with 44 yrs and he gets 4400 a month i hope this is right what he said this is kind of hard to understand since yellow did not pay the full amount all these years thanks for your help hope every one finds something better out there.

Yellow didn’t contribute for 1 1/2 years roughly, you don’t get that, reduction in payments to 25% which means it takes 4 years to get 1 , you can search for central states pension fund and set up user name and password, you can see what you can get, at the bottom left you’ll see estimator, you can put in dates it will show what you’ll receive, as far as the guy getting $100/ per year he was probably out of another conference, central states has not been that high for years

 

[DOTFXF]

I have an account with Central States and with my 20 years all of which are vested with CS my projection as of today shows a estimated payout of $2068.00 at full retirement age of 59.
15 of those years were from Roadway prior to the Yellow purchase and the other 5 from another company. Seems to be correct as far as a projection.

 

[Razorblade]

Yellow didn’t contribute for 1 1/2 years roughly, you don’t get that, reduction in payments to 25% which means it takes 4 years to get 1 , you can search for central states pension fund and set up user name and password, you can see what you can get, at the bottom left you’ll see estimator, you can put in dates it will show what you’ll receive, as far as the guy getting $100/ per year he was probably out of another conference, central states has not been that high for years

Yellow didn't pay for 1 1/2 years. Makes no difference. If you worked the qualifying hours, you get credit for those years.
25% means it takes 4 years to get 1. Not true. 4 years at any rate is 4 years vested.

 

[Mr Nobody]

Question Please Brothers and sisters i had 30 yrs vested not old enought to retire yet i got a job with a small trucking company that pays full money into the pension with no cap limit on the amount of years you can work manager says i only have to work 1 year to get back my pension to the full rate i don't know if that is true or not it is central states he had one man last year retire with 44 yrs and he gets 4400 a month i hope this is right what he said this is kind of hard to understand since yellow did not pay the full amount all these years thanks for your help hope every one finds something better out there.

I had same question. So I called central states pension fund..they told me if you get into another job like ABF thats in the same pension fund you can work for a year or might have been 44 weeks the penalties for retiring before 65 will be removed..as far as money you'll receive for pension will be what you earned at reduced rate with yellow but for each year you work at new job with full contributions you will earn you extra $100.00 a month when you collect..