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Will YRC employees that have retired have there pension restored ? I got 30 years vested over 25 years Get 1034 month.

To everyone that has been with the company for so long and have lost out on the pension I feel ya but the way I look at it coming from not having a high school diploma or ged this is amazing for me and my family. From what I heard today at 615 Yellow is going to survive and im going to keep the customers happy and make my family happy!
 
imonlayoff said:
will yrc retired employees get pension restored ?
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The answer is absolutely not! Your benefits were not cut. You got all you were entitled to based on the contributiions made by your employer. The fund did not reduce your pension. There is nothing to restore.
 
ZekDak said:
To everyone that has been with the company for so long and have lost out on the pension I feel ya but the way I look at it coming from not having a high school diploma or ged this is amazing for me and my family. From what I heard today at 615 Yellow is going to survive and im going to keep the customers happy and make my family happy!
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I sincerely hope you are correct. Just be warned that survival is not enough. Any business must prosper not merely survive. Profitable, competitive and productive are the important words. A temporary infusion of cash only pushes the inevitable down the road a bit.
 
Razorblade said:
I sincerely hope you are correct. Just be warned that survival is not enough. Any business must prosper not merely survive. Profitable, competitive and productive are the important words. A temporary infusion of cash only pushes the inevitable down the road a bit.
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I hear ya but don't u think that after 08 when it got really tough it would have went under..... and now we are still around? I've only been with YRC for only 3 years and have heard it all.
 
Thanks I will, I had to give up driving , health related I inquired about the pension for that reason. I am looking for what I earned nothing more. And I do not remember signing a contract for pension reduction
 
There's no way to sugar coat it...when Teamster employees voted YES on the MOU's to drastically cut their pension contributions rates, the Central States Pension Fund had no choice but to add additional YRCW restrictions. It now appears that because these restrictions went into effect well BEFORE the MPRA of 2014, participants affected by them will NOT be restored by the Butch Lewis Act of 2021. We'll have to wait to see what Central States decides. In the meantime maybe a "phone blitz" to the fund would be in order?

Stare What GIF

:wtflol:
 
imonlayoff said:
Show me a contract that we singed away our pension ?
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Your pension is not defined by the labor agreement.
Your contract contains NOTHING but a requirement for the employer to pay into the appropriate pension fund. That's it, nothing more. The pension fund is not part of the union and is not controlled by the union or any union/employer contract. The pension fund determines the amount of your benefit based on the amount paid in on your behalf. Nobody in the CSPF has taken a reduction in benefits and therefore there is nothing to restore.
 
Freightmaster1 said:
There's no way to sugar coat it...when Teamster employees voted YES on the MOU's to drastically cut their pension contributions rates, the Central States Pension Fund had no choice but to add additional YRCW restrictions. It now appears that because these restrictions went into effect well BEFORE the MPRA of 2014, participants affected by them will NOT be restored by the Butch Lewis Act of 2021. We'll have to wait to see what Central States decides. In the meantime maybe a "phone blitz" to the fund would be in order?

Stare What GIF

:wtflol:
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even if there was a way to restore some or all benefits legally , it would probably mean closure of yrc due to a mass exodus !!!
 
Razorblade said:
Your pension is not defined by the labor agreement.
Your contract contains NOTHING but a requirement for the employer to pay into the appropriate pension fund. That's it, nothing more. The pension fund is not part of the union and is not controlled by the union or any union/employer contract. The pension fund determines the amount of your benefit based on the amount paid in on your behalf. Nobody in the CSPF has taken a reduction in benefits and therefore there is nothing to restore.
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The part paid on my behalf is exactly what I am asking for ,
 
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And this is why that $100M payment due date to CSPF has been kicked down the road for several years now too! They should have to pay the $100M, or CSPF needs to let them off the hook for it to restore 100% full benefits!
:6788:
 
Was told by my local that it looks like YELLOW employees will still be penalized and this legislation will only guarantee you penalized payments for 30 years.
The 25% only benefits the central states you will get no more toward retirement from now on.
May have to stay to 70 years old.
 
Was told by my local that it looks like YELLOW employees will still be penalized and this legislation will only guarantee your penalized payments for 30 years.
The 25% only benefits central states you will get no more toward retirement from now on.
You may have to stay to 70 years old.
Central states only
 
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