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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.

Steward of the Rock said:
Were these YRCW retirees only that have already taken a cut, or all CSPF retirees? Because like SAC75, I know of several people that have retired from ABF over the years and I have never heard from any of them that their pension had been reduced in any way.
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Back in 2009 YRC asked to stop paying into the pension and reduce pay by 5% they came back a year later and asked for 15% but would pay 25% into pension fund. CSPF. The next contract came up and YRC companies signed the pension cuts into the contract permanently. The rest is history. So yes YRC is the only ones in freight that took a pension cut. Car haul has a modified pension now so can’t speak for how theirs works.
 
SAC75 said:
Back in 2009 YRC asked to stop paying into the pension and reduce pay by 5% they came back a year later and asked for 15% but would pay 25% into pension fund. CSPF. The next contract came up and YRC companies signed the pension cuts into the contract permanently. The rest is history. So yes YRC is the only ones in freight that took a pension cut. Car haul has a modified pension now so can’t speak for how theirs works.
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Thanks SAC75. I already knew that, but it sounded like DOTFXF was stating that YRCW members already retired were already taking a pay cut from their pension. I did not know any one under the CSPF had already had to take a cut from the pension they were currently drawing.
 
Steward of the Rock said:
Were these YRCW retirees only that have already taken a cut, or all CSPF retirees? Because like SAC75, I know of several people that have retired from ABF over the years and I have never heard from any of them that their pension had been reduced in any way.
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CSPF was one that got cut. I think since 2014
 
DOTFXF said:
CSPF was part of the MPRA that voted for the cuts.
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They proposed cutting it. The treasury department denied it. Therefore there was no cuts. It’s one of the first articles I sent you. They never took cuts! The Omnibus of 2014 signed by Obama opened up and opportunity to cut pensions. Central States came up with a plan and it got denied by the treasury department. They never took cuts
 
imonlayoff said:
I worked longer under the full plan math teacher than I worked under 1/4 !
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Call central states and ask them then sharp guy. If you look it up yourself on the computer it will tell you exactly what it did. Go to centralstatespensionfund.org sign in and look at your years and who you worked for. Not that tough.

it’s possible that they lost some of your years of service. It has happened before
 
DOTFXF said:
labornotes.org

No One Else Was Going To, So These Teamsters Saved Their Own Pensions

“When Don first got his letter saying his pension was going to be cut 52 percent, it was one of those moments like when President Kennedy was killed and 9/11,” said Dana Vargo, spouse of a retired Teamster. “You remember exactly where you were.” “My letter said, starting in a couple months, your...
labornotes.org labornotes.org
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Nice article but if you read it, it states that some plans actually took a cut......meaning Western PA and upstate NY teamsters.....but that all the activism by the members slowed it down and stopped the cuts for central states...This is a quote from the article....First they got the cuts at Central States, which covers 25 states, slowed down, then stopped them dead. But the underlying problem was still looming—the fund was going to run out of money.
 
SAC75 said:
You’ll be wait until your face is blue bud. I could care less what you think. You have absolutely no proof because you’re lying. Show me the article that cut our pensions in central state pension fund
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I know guys that retired from CSPF at 60 yrs old before CSPF changed the rules, and then were cut 6% per year of age below 65 later when the rules changed. Now, people retiring before age 65 lose as much as 10% per year. I have no idea if they will be restored?
 
jimmy g said:
I know guys that retired from CSPF at 60 yrs old before CSPF changed the rules, and then were cut 6% per year of age below 65 later when the rules changed. Now, people retiring before age 65 lose as much as 10% per year. I have no idea if they will be restored?
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I don't think anyone has those answers until the PBGC figures out all the rules...they have four months after the passage of Butch Lewis to figure it out if I remember correctly...
 
jimmy g said:
I know guys that retired from CSPF at 60 yrs old before CSPF changed the rules, and then were cut 6% per year of age below 65 later when the rules changed. Now, people retiring before age 65 lose as much as 10% per year. I have no idea if they will be restored?
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He is saying CSPF took a pension cut in 2014 when the Omnibus came out. NO ONE took that cut because it was denied. That is what this whole dispute is about. That and he claimed that he himself got a $600 check before hand, and now is getting 3000. An absolute lie!!!! Them rules have been changed for a while now by the way. There is no more 20 and 30 years and out. That was long ago. It was gone when the 2008 contract was signed I’m pretty sure.
 
jimmy g said:
I know guys that retired from CSPF at 60 yrs old before CSPF changed the rules, and then were cut 6% per year of age below 65 later when the rules changed. Now, people retiring before age 65 lose as much as 10% per year. I have no idea if they will be restored?
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They won’t be restored. If you retired after the 20 and 30 and out rule was taken out of the pension you are penalized a certain percentage per year if you retire before the 62, 65, or 67 per your age group for social security. They took that out just after I started or pretty close to that. Started in 2001. Though I could retire at 55 then.
 
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