Yellow | Pension tussle taking center stage in Yellow bankruptcy

[Steward of the Rock]

So the contract supersedes state law on workers compensation, or the teamsters take over the workers compensation from the state?

That I don’t know. Article 14. Workers Compensation Claims, Section 2. Modified Work of the Master Agreement states that “An active employee, who is injured on the job, qualifies for workers compensation benefits and is subsequently laid off, will continue to receive compensation payments and benefits for the period provided by his/her supplement”.
But, in my opinion, if benefits are ended when the Employer goes out of business, it would at least be worth looking into with that states Workers Comp board. I would also contact the Teamster Local I worked under for help or for info on who to contact for more info.

 

[Real Teamster]

As I remember FFE also had their own fleet that competed with O/O's that leased to them for the better paying loads. Guess who gets the better paying loads when a company owns their own fleet & also leases to O/O's?

And sadly, how many thousands of O/Os weren't astute enough to realize that they were being dealt with in this way? Lesson for all: if the company has company trucks as well as O/Os, take note of which truck is going to get the more profitable loads.

 

[7.62mm]

That I don’t know. Article 14. Workers Compensation Claims, Section 2. Modified Work of the Master Agreement states that “An active employee, who is injured on the job, qualifies for workers compensation benefits and is subsequently laid off, will continue to receive compensation payments and benefits for the period provided by his/her supplement”.
But, in my opinion, if benefits are ended when the Employer goes out of business, it would at least be worth looking into with that states Workers Comp board. I would also contact the Teamster Local I worked under for help or for info on who to contact for more info.

The contract does not supercede law. Yellow was self insured, they used Sedgwick. Sedgwick worked with the states worker comp offices. Injured workers filed a w/c claim with the state, the state workers comp would get involved with industrial commission hearings if there was a dispute. All paperwork (claim forms, c84,c9) were filed with the state.
When yellow closed, the states workers comp departments were notified by Sedgwick. The states then took over the claims including paying existing wages until the injured workers can return to work( new employer), or be retrained to another career since the employer is closed. The only thing that changed was the loss of central states health insurance . According to the union attorney I talked to... IF Yellow would have re-opened, the workers comp claims would have transferred back to Sedgwick. One of my good friends from my terminal is going through this right now.

 

[Triplex]

The contract does not supercede law. Yellow was self insured, they used Sedgwick. Sedgwick worked with the states worker comp offices. Injured workers filed a w/c claim with the state, the state workers comp would get involved with industrial commission hearings if there was a dispute. All paperwork (claim forms, c84,c9) were filed with the state.
When yellow closed, the states workers comp departments were notified by Sedgwick. The states then took over the claims including paying existing wages until the injured workers can return to work( new employer), or be retrained to another career since the employer is closed. The only thing that changed was the loss of central states health insurance . According to the union attorney I talked to... IF Yellow would have re-opened, the workers comp claims would have transferred back to Sedgwick. One of my good friends from my terminal is going through this right now.

Does Workers’ Comp Benefits Stop When a Company Closes?

Has your employer closed their doors while you’re still receiving workers’ comp benefits? Find out what your options are and if you can receive unemployment too.

www.gerberholderlaw.com

What happens to workers’ comp claims when a company shuts down? | Cullen Legal

The past couple of years have been difficult ones for many companies – particularly smaller ones. A lot of businesses have had to close their doors for good. Maybe your employer was able to hang in there. But what happens if you were injured and have filed a workers’ comp claim – or you’re already

www.cullenlegal.net

https://www.findlaw.com/legalblogs/personal-injury/can-i-still-get-workers-comp-if-my-company-goes-out-of-business/

 

[Triplex]

The contract does not supercede law. Yellow was self insured, they used Sedgwick. Sedgwick worked with the states worker comp offices. Injured workers filed a w/c claim with the state, the state workers comp would get involved with industrial commission hearings if there was a dispute. All paperwork (claim forms, c84,c9) were filed with the state.
When yellow closed, the states workers comp departments were notified by Sedgwick. The states then took over the claims including paying existing wages until the injured workers can return to work( new employer), or be retrained to another career since the employer is closed. The only thing that changed was the loss of central states health insurance . According to the union attorney I talked to... IF Yellow would have re-opened, the workers comp claims would have transferred back to Sedgwick. One of my good friends from my terminal is going through this right now.

Sedgwick is a claims management company, not an insurance carrier themselves.

 

[EX396]

Good not to be rude but I hope the bottom feeders including any lurking on this board lose every freaking dime they invested betting on the demise of Yellow

Not looking good for bottom feeders.

Not looking good for anybody if the hearing on V-Day goes the way CSPF and PBGC hope.

I'm no lawyer, didn't even stay at a Holiday Inn this past weekend. It seems common sense would dictate that CSPF was already made whole so their claim against YRCW is zip. PBGC should be entitled to whatever premiums they are owed, period.

Insuring things is a numbers' game played by actuaries. You get in a 2 vehicle accident. You're made whole by the other party's insurance company. The other party doesn't owe anything to their insurance company other than the premiums. Simple. This is you (CSPF) having already been made whole by the insurance company wanting the other driver (YRC) to pay your damages as well. Then it's the insurance company wanting their insured to pay insurance premiums AND for the damage. That's not the way it works.

 

[ABF381]

Not looking good for anybody if the hearing on V-Day goes the way CSPF and PBGC hope.

I'm no lawyer, didn't even stay at a Holiday Inn this past weekend. It seems common sense would dictate that CSPF was already made whole so their claim against YRCW is zip. PBGC should be entitled to whatever premiums they are owed, period.

Insuring things is a numbers' game played by actuaries. You get in a 2 vehicle accident. You're made whole by the other party's insurance company. The other party doesn't owe anything to their insurance company other than the premiums. Simple. This is you (CSPF) having already been made whole by the insurance company wanting the other driver (YRC) to pay your damages as well. Then it's the insurance company wanting their insured to pay insurance premiums AND for the damage. That's not the way it works.

I understand, but it is also the way the final rule is written....it is written that way because the PBGC wanted to make it just as expensive for a company to buy out of funds....the funds got bailed out, not the companies...

 

[Razorblade]

The contract does not supercede law. Yellow was self insured, they used Sedgwick. Sedgwick worked with the states worker comp offices. Injured workers filed a w/c claim with the state, the state workers comp would get involved with industrial commission hearings if there was a dispute. All paperwork (claim forms, c84,c9) were filed with the state.
When yellow closed, the states workers comp departments were notified by Sedgwick. The states then took over the claims including paying existing wages until the injured workers can return to work( new employer), or be retrained to another career since the employer is closed. The only thing that changed was the loss of central states health insurance . According to the union attorney I talked to... IF Yellow would have re-opened, the workers comp claims would have transferred back to Sedgwick. One of my good friends from my terminal is going through this right now.

Workers Comp claims must be pre funded if an employer is self insured. Unlike pension funds, workers comp cannot be underfunded.

 

[EX396]

I understand, but it is also the way the final rule is written....it is written that way because the PBGC wanted to make it just as expensive for a company to buy out of funds....the funds got bailed out, not the companies...

YRC wasn't trying to buy out of the funds (e.g, UPS). YRC defaulted on contributions. Did YRC also default on premiums to PBGC? If so, then PBGC should be going after YRC for those premiums, not the contributions. CSPF should be going after YRC for the contributions, instead they turned to PBGC and were made whole. Done.