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ODFL | Starting Dock pay

calvin said:
I retired a year and a half ago. I maxed out my 401 K contribution for the last 10 years I was there. They had some good years and contributed between 10K and 13K. The March following my retirement they put 13K into my account because I had worked the required hours the previous year to be eligible for the discretionary contribution.
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This ^^^^
I dont understand the older drivers at my terminal that don't take advantage of this. I told them I have gotten over 60k in discretionary matches and 15k in matching 3% over 5 years. I max out every year on my 401k. The ones I've told think I'm lieing.
 
Nappen said:
This ^^^^
I dont understand the older drivers at my terminal that don't take advantage of this. I told them I have gotten over 60k in discretionary matches and 15k in matching 3% over 5 years. I max out every year on my 401k. The ones I've told think I'm lieing.
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It is smart that you take advantage of this program. I stopped talking about this very thing when I was working there. I have benefited from their discretionary match greatly. A lot of the drivers used their 401k plan as a check book, putting money in and then taking it out to buy a car or go on a vacation like it was a Christmas Club account thinking that they were paying themselves back when they put the borrowed money back in. You can't fix stupid as a lot of my coworkers used to say, but for different reasons. Most of the folks that I worked with believed that buying lottery tickets was their retirement plan. No concept of wealth building.
 
calvin said:
It is smart that you take advantage of this program. I stopped talking about this very thing when I was working there. I have benefited from their discretionary match greatly. A lot of the drivers used their 401k plan as a check book, putting money in and then taking it out to buy a car or go on a vacation like it was a Christmas Club account thinking that they were paying themselves back when they put the borrowed money back in. You can't fix stupid as a lot of my coworkers used to say, but for different reasons. Most of the folks that I worked with believed that buying lottery tickets was their retirement plan. No concept of wealth building.
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That's why a forced savings plan you can't touch like Australia's Superannuation funds much better.
 
Jaloc said:
They can cut your pay and benefits at any time without a contract!
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Sure they can, if they want their drivers to quit on short, or no notice.
In 2008-9 every one of OD's competitors (every!!) Cut either benefits, pay or both . The Non union companies cut vacation, pay, 401k matches etc. The union companies negotiated give backs (15% ring a bell??) But YRC wasn't alone ABF also did give backs as well. The big difference, I guess the Union carriers asked permission instead of just doing it. With one notable exception OD. We simply didn't get a pay raise for '09, all our benefits were left intact. Our 401k received it's regular match, and we received a discretionary match since the company made a small profit that year. So the companies employees came out of the "Great Recession" at least in as good shape as we entered it.
 
DayliteDean said:
Sure they can, if they want their drivers to quit on short, or no notice.
In 2008-9 every one of OD's competitors (every!!) Cut either benefits, pay or both . The Non union companies cut vacation, pay, 401k matches etc. The union companies negotiated give backs (15% ring a bell??) But YRC wasn't alone ABF also did give backs as well. The big difference, I guess the Union carriers asked permission instead of just doing it. With one notable exception OD. We simply didn't get a pay raise for '09, all our benefits were left intact. Our 401k received it's regular match, and we received a discretionary match since the company made a small profit that year. So the companies employees came out of the "Great Recession" at least in as good shape as we entered it.
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I remember that. Precisely as you stated. Besides any raise was more money into the 401k.
 
DayliteDean said:
Sure they can, if they want their drivers to quit on short, or no notice.
In 2008-9 every one of OD's competitors (every!!) Cut either benefits, pay or both . The Non union companies cut vacation, pay, 401k matches etc. The union companies negotiated give backs (15% ring a bell??) But YRC wasn't alone ABF also did give backs as well. The big difference, I guess the Union carriers asked permission instead of just doing it. With one notable exception OD. We simply didn't get a pay raise for '09, all our benefits were left intact. Our 401k received it's regular match, and we received a discretionary match since the company made a small profit that year. So the companies employees came out of the "Great Recession" at least in as good shape as we entered it.
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Over a period of a few years , Con-way ended the pension. Rolled back benefits on the 401k plan. Changed the health insurance for the worse. Also gave a pay decrease. There was also a bonus plan: ½ at the end of the year & ½ at the beginning - gradually phased out by telling everyone a penny or two extra per hour would be better. Gone.

I am glad to hear positives about ANY large company in regards to how they treat their employees.
 
DayliteDean said:
Sure they can, if they want their drivers to quit on short, or no notice.
In 2008-9 every one of OD's competitors (every!!) Cut either benefits, pay or both . The Non union companies cut vacation, pay, 401k matches etc. The union companies negotiated give backs (15% ring a bell??) But YRC wasn't alone ABF also did give backs as well. The big difference, I guess the Union carriers asked permission instead of just doing it. With one notable exception OD. We simply didn't get a pay raise for '09, all our benefits were left intact. Our 401k received it's regular match, and we received a discretionary match since the company made a small profit that year. So the companies employees came out of the "Great Recession" at least in as good shape as we entered it.
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Plus you qualified people could pick up the slack at Billy's Lawncare. :lmao:
 
DayliteDean said:
Sure they can, if they want their drivers to quit on short, or no notice.
In 2008-9 every one of OD's competitors (every!!) Cut either benefits, pay or both . The Non union companies cut vacation, pay, 401k matches etc. The union companies negotiated give backs (15% ring a bell??) But YRC wasn't alone ABF also did give backs as well. The big difference, I guess the Union carriers asked permission instead of just doing it. With one notable exception OD. We simply didn't get a pay raise for '09, all our benefits were left intact. Our 401k received it's regular match, and we received a discretionary match since the company made a small profit that year. So the companies employees came out of the "Great Recession" at least in as good shape as we entered it.
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Sorry, but you are incorrect....ABF asked for (but it got voted down) a 15% paycut in 2009 or 2010.....in 2013 the members voted in a 7% cut....
 
flybynite said:
Haven’t heard from Billy in awhile. He must be positioning his snow blowers up on Snoqualmie Pass hoping and praying for snow. Might be a snowless winter though. He’ll have to sell his luxury Bayliner to his financial backer’s, Bill Gates and Jeff Bezos.
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I hear he's sweet on a waitress at the Do Drop Inn.
 
DayliteDean said:
Sure they can, if they want their drivers to quit on short, or no notice.
In 2008-9 every one of OD's competitors (every!!) Cut either benefits, pay or both . The Non union companies cut vacation, pay, 401k matches etc. The union companies negotiated give backs (15% ring a bell??) But YRC wasn't alone ABF also did give backs as well. The big difference, I guess the Union carriers asked permission instead of just doing it. With one notable exception OD. We simply didn't get a pay raise for '09, all our benefits were left intact. Our 401k received it's regular match, and we received a discretionary match since the company made a small profit that year. So the companies employees came out of the "Great Recession" at least in as good shape as we entered it.
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Pyle only froze pay only that year, everything like you we still received. In Dec we got a bonus as you said since it came back around some.
 
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