ABF | UE/Linehaul

seabreeze

Not Well Known Member, 63 Year Teamster Member
That would be me and the number on the check is the most important thing. With financial literacy being openly available to everyone, it's not hard to make sure you're set up for retirement without a pension. You also have the doom and gloom of the pension going the way of social security and not being available when I'm eligible for it...a little over 30 years. I also don't want my retirement funds tied to my employer. Then work feels like a prison sentence. I can walk from FedEx at any time and not worry about my 401k. I also plan on retiring in 26 years at 55. All those wheels are in motion. Until ABF presents a better check, they're not going to attract quality people.
I guess since 381 likes this means he and SOR are not quality people:hilarious:
 

Streaker69

The Influencer
We just hired thee excellent drivers from New Penn & one from T Force and I can tell to 2 of them are in their 20’s & the main reason they came was for the pension & benefits….

That's not a majority of people, though. Most people want the check. I've made this argument before. Relying on a company (any company) for retirement is a huge gamble and I have health insurance because I have an active kid that gets hurt sporadically. If not for that, I'd have no need for it at this stage in my life. If there's ever time when I need Cadillac insurance, it's a job application away. Health insurance and a pension are good things to have, but the number on the check matters more for me and my goals. I don't want to work until I'm almost dead to enjoy my money.

You're also taking about union employees moving from Union company to Union company, which tells me they want to work for a union company. I'm honestly surprised anybody still works for newpenn.
 

ABF381

Well-Known Member
Staff member
Super Moderator
AD FREE
That would be me and the number on the check is the most important thing. With financial literacy being openly available to everyone, it's not hard to make sure you're set up for retirement without a pension. You also have the doom and gloom of the pension going the way of social security and not being available when I'm eligible for it...a little over 30 years. I also don't want my retirement funds tied to my employer. Then work feels like a prison sentence. I can walk from FedEx at any time and not worry about my 401k. I also plan on retiring in 26 years at 55. All those wheels are in motion. Until ABF presents a better check, they're not going to attract quality people.
Ya know I thought of you when I read that post of SOR....financial literacy is available now which is great for you, but I believe that you are the exception and not the rule....what I mean by that is you are one of the most intelligent younger posters on here....it works for you, but will it work for, ahem....the less fortunate (brain power wise) people? I know that's not for you to worry about, but it is reality...as far as being set up, I save, invest, and have my pension and SS.....I think SS is going nowhere because whoever votes that in politically won't get reelected....that won't happen as both sides crave power....
 

Streaker69

The Influencer
Only problem is negotiations begin now so the next two quarters don't mean as much...I hope they only go 3 years next contract...

I meant that I'll bet 50 cents:poke::438:

I think 3 years would be better than 5. .

If I'm negotiating on behalf of ABF, I'm saying "I know you guys want more and you deserve it for all the work you've done making this company great, but look at the times we're in. Amazon, meta, Lyft etc are all laying people off and they have no real expenses. We want you guys to keep your pension and health insurance so the best we can do on the pay rate is (insert insulting number)."

That's how I see this negotiation going.
 

Streaker69

The Influencer
Ya know I thought of you when I read that post of SOR....financial literacy is available now which is great for you, but I believe that you are the exception and not the rule....what I mean by that is you are one of the most intelligent younger posters on here....it works for you, but will it work for, ahem....the less fortunate (brain power wise) people? I know that's not for you to worry about, but it is reality...as far as being set up, I save, invest, and have my pension and SS.....I think SS is going nowhere because whoever votes that in politically won't get reelected....that won't happen as both sides crave power....

Thank you for the kind words, I really do appreciate it.

I look at the big picture. Projections show that by 2060, 25% of the population will be 65 or older. It currently sits at around 15%. That means less people working, less people contributing to pension funds and social security. I also look at the job market. People don't want to work a traditional job and they find ways to earn money and most of the time it doesn't get reported. I don't see how the current model is sustainable and I can't trust that "they" will fix it.

FedEx is my main source of income, but not my only source of income. I'm fine working 1 or 2 days a week, I don't care to **** off managers and I'm fine pushing back when I have to. The only part of working 2 days a week that bothers me is losing out on the 401k match, but like Thomas Sowell says "there are no solutions. There are only trade offs". I'm always busy and constantly plotting my next move to earn more and work less.
 

GO40

Well-Known Member
That's not a majority of people, though. Most people want the check. I've made this argument before. Relying on a company (any company) for retirement is a huge gamble and I have health insurance because I have an active kid that gets hurt sporadically. If not for that, I'd have no need for it at this stage in my life. If there's ever time when I need Cadillac insurance, it's a job application away. Health insurance and a pension are good things to have, but the number on the check matters more for me and my goals. I don't want to work until I'm almost dead to enjoy my money.

You're also taking about union employees moving from Union company to Union company, which tells me they want to work for a union company. I'm honestly surprised anybody still works for newpenn.
I won’t beat a dead horse we have been through this before, maybe when you get older you will see what we’re talking about….
 

Streaker69

The Influencer
I won’t beat a dead horse we have been through this before, maybe when you get older you will see what we’re talking about….

I see everything and it's all clear to me. We value different things and that's ok. You want health insurance and a pension, I want the most money I can get right now and the ability to do what I want, when I want, how I want with a minimal amount of time invested. ABF wouldn't be able to provide that to me. I'd have to work 40 hours at ABF to gross a little over 1,000. I make that working an average of 23 hours at FedEx and I have the rest of the week to hustle and do other things.
 

Steward of the Rock

Well-Known Member
The pension was fixed 2 years ago, I believe it’s shored up until 2050….
What happens after 2050?
The pension fund issues we had in the past will most likely not be a problem in the future. The problem in the past was due to a multi-employer pension fund that at one time had hundreds of freight companies under the same plan. When one company failed, the other companies had to pick up the slack to cover the pension obligations of the employees of the failing Company. One by one, the number of companies under this multi-employer pension fund dwindled down to the YRCW companies and ABF.
It was so bad that at one point there were four people drawing a pension for every one person paying in.
So S69, the answer to your question is this. When 2050 gets here, the ones drawing a pension today from the multi-employer pension fund will most likely not be around drawing a pension from it in 2050.
With the exception of SeaBreeze and TriPlex of course!!!
 

Triplex

Experienced stalker
The pension fund issues we had in the past will most likely not be a problem in the future. The problem in the past was due to a multi-employer pension fund that at one time had hundreds of freight companies under the same plan. When one company failed, the other companies had to pick up the slack to cover the pension obligations of the employees of the failing Company. One by one, the number of companies under this multi-employer pension fund dwindled down to the YRCW companies and ABF.
It was so bad that at one point there were four people drawing a pension for every one person paying in.
So S69, the answer to your question is this. When 2050 gets here, the ones drawing a pension today from the multi-employer pension fund will most likely not be around drawing a pension from it in 2050.
With the exception of SeaBreeze and TriPlex of course!!!
Hey SOR, I may be drawing but for every trip I run the company contributes to the fund. That does nothing for me but it benefits others in the fund. Am I a good guy or what? :hysterical:
 

Sumting Wong

Active Member
r giving away the 34 hour reset for free

t the nons pay for these things as well,

...he told me I was right....even our union is disingenuous at times....
Giving away for free..... I am just not that optimistic that the negotiators will even ask for a reasonable increase in pay. When anyone asks our business agent about a REAL cost of living clause hiz response is that 1. Our fixed rate of pay was above inflation and 2. WHEN we go into DEFLATION then it will be a pay cut. Who is afraid of deflation?
We need more vacation and sick days. The increase in vacation is of little value if you are locked into taking a full week at a time and must start on your day off.
 

BIG R GUY

Ted and Wayne’s driving instructor
AD FREE
The pension fund issues we had in the past will most likely not be a problem in the future. The problem in the past was due to a multi-employer pension fund that at one time had hundreds of freight companies under the same plan. When one company failed, the other companies had to pick up the slack to cover the pension obligations of the employees of the failing Company. One by one, the number of companies under this multi-employer pension fund dwindled down to the YRCW companies and ABF.
It was so bad that at one point there were four people drawing a pension for every one person paying in.
So S69, the answer to your question is this. When 2050 gets here, the ones drawing a pension today from the multi-employer pension fund will most likely not be around drawing a pension from it in 2050.
With the exception of SeaBreeze and TriPlex of course!!!
My mirror memory fund is included in the pension until 2050 too. Money can be used by people who can’t cope with mirror loss.
 

Steward of the Rock

Well-Known Member
Hey SOR, I may be drawing but for every trip I run the company contributes to the fund. That does nothing for me but it benefits others in the fund. Am I a good guy or what? :hysterical:
You know you are one of my favorite peoples brother!!!
I also want to clarify that the failure of all of these companies in the past was not the fault of the employees. They worked their time and they deserved every dime that was paid in on their behalf. Deregulation and the Zollars effect were a killer combination.
The Zollars effect is still killing peoples pensions today.
I would like to hear Zollars response the day he meets our maker!!!
 

BIG R GUY

Ted and Wayne’s driving instructor
AD FREE
You know you are one of my favorite peoples brother!!!
I also want to clarify that the failure of all of these companies in the past was not the fault of the employees. They worked their time and they deserved every dime that was paid in on their behalf. Deregulation and the Zollars effect were a killer combination.
The Zollars effect is still killing peoples pensions today.
I would like to hear Zollars response the day he meets our maker!!!
Zollars was the poorest excuse for a CEO I ever saw. The only thing he was smart about was the guaranteed money he received in the event he was fired.
 
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