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YRC Pension

Discussion in 'YRC Freight' started by realityofitall, Apr 11, 2019.

  1. realityofitall

    realityofitall Well-Known Member

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    If you vote yes for this deal your agree to 5 more years of 25% of the required contributions to your pension. Never mind the less than $1 per year. Vote no and keep voting no until wages and pensions are restored.
     
  2. Try'n Hard

    Try'n Hard SITUATION CRITICAL..... but not serious

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    I've got 10yrs left and I'm in central states. How is this going to help?
     
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  3. abfempm

    abfempm Well-Known Member

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    It's not
     
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  4. Keepingon

    Keepingon Well-Known Member

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    If your contribution continues to go into a pension fund that's not going to be there when you leave in 10 years you get nothing, if you're allowed to take that contribution and put in a 401(k) and you match it you get a little something.
     
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  5. Free Dumb

    Free Dumb Well-Known Member

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    Better open a Roth IRA at TD Ameritrade or somewhere, max it out every year and start buying stocks. ODFL should be your first just to have a good trucking stock, then some ETF's = ie IVOG, VOE, QQQ, BDJ, grab some AVGO, STZ if you like.
     
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  6. Jaloc

    Jaloc Well-Known Member

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    My contribution should not forced to go into the pension fund for a pension I will never see it's :horseshit: we should have option for it to go into a IRA or 401k just pay full rate so I can save more on my own!
     
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  7. rainman55343

    rainman55343 Member

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    Sorry to say I really don't care about the pension. It will be broke in less than 10 years and I have 30 years to go till I can retire. I allready have 13 years at yrc but I'm only 38 years old .
     
  8. Elwood

    Elwood Question Authority

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    Put every spare penny, plus a dollar into the 401k. You’ll retire comfortably. ($100/week)
     
  9. Keepingon

    Keepingon Well-Known Member

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    30 years to go, so the contribution being made on YOUR behalf is $125.00 a week multiplied by the 30 years you still have to go equals $195,000.00 by itself you match it $390,000.00 without interest and investment growth. If the Union would agree to your money going into a 401k you’ll be 68 years old walking out the door
    Very happy.
     
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  10. Jaloc

    Jaloc Well-Known Member

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    Union needs the money to pay the pensions and health care of its Officers and Business Agents members can't have any of it no pension cut for them shame on all of them for negotiating this crap contracts.
     
  11. slipperysleuth

    slipperysleuth Tornadicthermalcyclogenesis, sorta..

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    sounds great on paper but this industry wreaks havoc on a persons health no matter how much you exercise eat right run jump yada yada its a tough job try and come up with something a person can bail out early with before this grinds ya down
     
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  12. Elwood

    Elwood Question Authority

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    I dunno. Started in household in 76, switched to freight in 97. Gave up red meat in 82. Chicken, fish, fresh veggies and salad at least 6 times a week. No fast food, except an occasional burrito.
    Just quit playing hockey, because once a week beer league with the kids became risky. I’ll start skating again the day I retire and do rings around those pesky little wanna be’s. :17142:
     
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  13. slipperysleuth

    slipperysleuth Tornadicthermalcyclogenesis, sorta..

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    yeah seriously i gave up roller blading at the layover motels when i hit 60 seems like thats when i started falling apart and feelin like an old fart
     
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  14. slipperysleuth

    slipperysleuth Tornadicthermalcyclogenesis, sorta..

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    P.S. dont let me tell you what happened when i hit a pothole in the kmart parking lot in Rockford ... EEEEoowee ouch!
     
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  15. Roadway spy

    Roadway spy Active Member

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    Looks like trying to keep anyone else getting cut.

    [​IMG]
    Senators Robert Portman (R-OH) and Sherrod Brown (D-OH) reintroduce the Pension Accountability Act:
    The Multiemployer Pension Reform Act (MPRA) allows certain deeply underfunded multiemployer plans to apply to the Treasury Department to cut benefits. If the agency approves the cuts, then workers and retirees are given a vote to approve or deny the cuts. However, the way the law is written, the voting process is completely unfair allowing for those who didn’t bother to cast a ballot to be counted as “yes” votes, leading to thousands of people having their pensions slashed. The Pension Accountability Act (S.833) would amend the voting procedures under MPRA to count only returned ballots, ensuring that workers’ and retirees’ voices are truly heard. The Pension Rights Center is quoted in Senator Portman’s press releaseapplauding him ”for introducing this commonsense technical fix to the unfair and undemocratic voting process in MPRA
     
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  16. Elwood

    Elwood Question Authority

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  17. Keepingon

    Keepingon Well-Known Member

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    Isn’t this an older article?
     
  18. BIG R GUY

    BIG R GUY Volvo designated mirror technician

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  19. Hoodock

    Hoodock Well-Known Member

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    Teamsters offer a 401k. Of course you would be the sole contributor
     
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  20. jimmy g

    jimmy g Kook

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    Click on Portman’s press release. It’s current.
     
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