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  1. #11
    Taking A Stand!!!

    Join Date
    Jul 2009
    Local Union
    492
    Employer
    ABF
    Location
    Albuquerque, NM
    Posts
    41,684
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    915

    Default Re: YRC and healthcare

    All YRCW Teamsters in TeamCare Get Coverage Extended
    Posted on May 11, 2020

    A May 9 Memo from the IBT Freight Division reports that arrangements have been made so that both active YRCW employees and employees laid off after March 1 will have the full 8 weeks of “Layoff Coverage" going forward from May 10 to continue health care coverage, if they are in TeamCare (Central States H&W). This includes both employees who have been actively working and those who may have already used up some of the “layoff coverage.” This extends H&W coverage for YRCW Teamsters presently laid off. Read the full memo for details.
    https://d3n8a8pro7vhmx.cloudfront.ne...pdf?1589210136

    http://www.tdu.org/all_yrcw_teamster...erage_extended

  2. #12
    Retired !

    Join Date
    Feb 2009
    Local Union
    107
    Employer
    Retired - New Penn
    Location
    South Jersey
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    16,923
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    366

    Default Re: YRC and healthcare

    A follow up story on YRC and teamcare coverage.

    YRCW Teamsters members still getting benefits in 8-week extension
    YRCW employees are starting the third week of healthcare being paid for by the Teamsters’ benefits provider as if they were out of work, even though not all of them are.

    The healthcare situation for YRCW employees is just one manifestation of the fiscal problems at the less-than-truckload (LTL) carrier, a slide that has taken the company’s stock price down to $1.40 from a 52-week high of just under $5.

    On May 8, TeamCare, an operating unit of the Teamsters-affiliated Central States Health Fund, told Teamsters locals in a memo that YRCW was “delinquent in paying health contributions owed on members who worked during March.” The memo said YRCW had told Central States that the same development was going to happen for work performed by union members in April and May.
    https://www.freightwaves.com/news/yr...week-extension

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  4. #13
    Taking A Stand!!!

    Join Date
    Jul 2009
    Local Union
    492
    Employer
    ABF
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    Albuquerque, NM
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    915

    Default Re: YRC and healthcare

    I know this is not new news but learned a few things I didn't know about. For one, that YRC matches contributions to 401K's? ABF does not do that. (and of course those have been suspended now).

    New Penn owner YRC Worldwide cuts healthcare contributions


    Although the coronavirus pandemic has accelerated the growth of ecommerce, the systemwide impact of national shutdowns has left the trucking industry in dire straits.

    That impact has been felt locally through New Penn, a “less-than-truckload” carrier with Lebanon roots that is now owned by YRC Worldwide. Although administrative jobs were moved out of the county last year, New Penn still has a major presence throughout the region.

    YRC has taken extreme measures to stem the losses inflicted by COVID-19 business disruption. Most recently, it suspended insurance benefits indefinitely for YRC workers, as first reported by industry publication Land Line.

    YRC confirmed this news in a statement, but noted that the company has worked with the Teamsters Union to ensure continued coverage for the time being.
    According to Freight Waves, the healthcare move is among a few the company has taken to stem its losses. Others include eliminating incentive compensation and raises for its officers, suspending its 401k-match, and institution layoffs and furloughs.
    https://lebtown.com/2020/05/27/new-p...contributions/

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  6. #14
    Resistance is futile.

    Join Date
    Nov 2007
    Local Union
    391
    Employer
    YRC-Roadway
    Location
    North Carolina
    Posts
    3,118
    Rep Power
    867

    Default Re: YRC and healthcare

    the 401k matching i just for the non union. And I don't mean scabs. Its non union jobs. management etc.... union members have a 401k with the international and I am the only one contributing to it.

  7. Likes fxstc07 Liked this post
  8. #15
    Retired !

    Join Date
    Feb 2009
    Local Union
    107
    Employer
    Retired - New Penn
    Location
    South Jersey
    Posts
    16,923
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    366

    Default Re: YRC and healthcare

    Quote Originally Posted by ABFwife View Post
    I know this is not new news but learned a few things I didn't know about. For one, that YRC matches contributions to 401K's? ABF does not do that. (and of course those have been suspended now).

    New Penn owner YRC Worldwide cuts healthcare contributions


    https://lebtown.com/2020/05/27/new-p...contributions/
    The matching 401K contributions are for salaried and management personnel.
    Way back, CF allowed hourly union employees to contribute to the CF 401K plan. They did not match, but they didn't charge any administrative or management fees either.
    It was a good way to start investing. Of course I lost some money on CF stock ...

  9. Thanks ABFwife thanked for this post
  10. #16
    Taking A Stand!!!

    Join Date
    Jul 2009
    Local Union
    492
    Employer
    ABF
    Location
    Albuquerque, NM
    Posts
    41,684
    Rep Power
    915

    Default Re: YRC and healthcare

    Quote Originally Posted by fxstc07 View Post
    The matching 401K contributions are for salaried and management personnel.
    Way back, CF allowed hourly union employees to contribute to the CF 401K plan. They did not match, but they didn't charge any administrative or management fees either.
    It was a good way to start investing. Of course I lost some money on CF stock ...
    Big time losing with ours right now! Really not sure I want to keep contributing.

  11. #17
    Resistance is futile.

    Join Date
    Nov 2007
    Local Union
    391
    Employer
    YRC-Roadway
    Location
    North Carolina
    Posts
    3,118
    Rep Power
    867

    Default YRC and late H&W payments

    I heard yesterday that YRC has made the April payment.

  12. Likes fxstc07, B'oink Liked this post
  13. #18
    Getting In The Groove Now.

    Join Date
    Dec 2013
    Local Union
    317
    Employer
    YRC
    Location
    Syracuse
    Posts
    110
    Rep Power
    81

    Default Re: YRC and late H&W payments

    Salesman came in this week and said they were all caught up. Can't find anything to confirm it though. NYS fund.

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  15. #19
    Resistance is futile.

    Join Date
    Nov 2007
    Local Union
    391
    Employer
    YRC-Roadway
    Location
    North Carolina
    Posts
    3,118
    Rep Power
    867

    Default Re: YRC and late H&W payments

    Quote Originally Posted by B'oink View Post
    Salesman came in this week and said they were all caught up. Can't find anything to confirm it though. NYS fund.

  16. #20
    Taking A Stand!!!

    Join Date
    Jul 2009
    Local Union
    492
    Employer
    ABF
    Location
    Albuquerque, NM
    Posts
    41,684
    Rep Power
    915

    Default Re: YRC and healthcare

    YRC continues to struggle with benefits payments, including health coverage

    YRC Worldwide Inc. is asking to put off paying into funds that provide medical coverage and other benefits to union workers as the Overland Park-based carrier struggles to right itself during the pandemic.

    The company (Nasdaq: YRCW) seeks to defer millions of dollars in payments for March, April and May, and some agreements with the funds will expire next month, The Wall Street Journal reports. YRC wants the funds to continue to support the benefits “while it gets its cash flow sorted out in the short term,” a Teamsters memo says.

    With lockdown-driven declines in freight volumes, YRC has faced increasing financial pressure, like many of its peers in the less-than-truckload space. YRC is the fifth-largest trucking company in the U.S., the report says.

    Although YRC reported a first-quarter profit of $4.3 million, that followed an annual loss of $104 million in 2019, the report says. Despite its challenges, the company has “a complete alignment with parties that have a vested interest in having them succeed — the unions and banks,” one consultant said.

    “Everyone recognizes that YRC alive is much better than YRC dead,” Mike Regan of consulting firm TranzAct Technologies Inc. told the newspaper.
    https://www.bizjournals.com/kansasci...-deferral.html

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