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  • YRC and healthcare

    http://www.tdu.org/yrcw_gets_a_delay...nsion_payments

    . In a report to all locals representing YRCW members, IBT Freight Director Ernie Soehl told officers that YRC, Holland, New Penn and Reddaway have sought a “grace period” to delay making health and welfare payments to various funds Teamster members are covered under.



    YRCW has asked for the delay on payments due in April, and perhaps in future months.

    Soehl explained that the IBT is not objecting to the delay because YRCW has experienced a sharp decline in volume as a result of the COVID-19 crisis. He says that the April 1, 2020 raise will be included in paychecks.



  • #2
    Re: YRC and healthcare

    Probably wont be that long before something else pops up that they cant pay.

    Comment


    • #3
      Re: YRC and healthcare

      Found out about the pension yesterday,didn't know about h&w,thanks.

      Comment


      • #4
        Re: YRC and healthcare

        Originally posted by Jimmy View Post
        Probably wont be that long before something else pops up that they cant pay.
        Doubt it will be their bonuses..

        Comment


        • #5
          Re: YRC and healthcare

          Originally posted by crazy View Post
          Doubt it will be their bonuses..
          so true

          Comment


          • #6
            Re: YRC and healthcare

            YRC has received the grace period they requested.

            YRC Receives Grace Period For Union Benefits Amid 'Sharp Decline'
            In a letter to rank and file members, the negotiating committee of the International Brotherhood of Teamsters informed members that YRC Worldwide (NASDAQ: YRCW) was given a grace period on health and welfare and pension fund contributions due to volume declines associated with the coronavirus.

            The letter states that the grace period extended is for March contributions that were to be paid in April and that the carrier may seek an extension for "perhaps a few additional months going forward." All of YRC's less-than-truckload (LTL) operating companies – YRC Freight, Holland, New Penn and Reddaway – were reported to have experienced a "sharp decline in volumes over the past few weeks" due to customer closures and a weakened economy.

            Importantly, the letter stated that YRC has not asked for any wage concessions from the union and plans to pay the contractual wage increase agreed upon in the labor deal that was ratified in May 2019.
            https://finance.yahoo.com/news/yrc-r...203301791.html

            Comment


            • #7
              Re: YRC and healthcare

              Memorandum from Ernie Soehl, director of freight division.

              Status Update: YRCW – Health and Welfare and Pension Fund Contribution Delays
              As I indicated last week, the YRCW companies have experienced a sharp decline in volumes and revenues over the past few weeks in light of the closure of many of its customers’ operations and the general economic downturn due to the COVID-19 pandemic. It is hoped that this decline is temporary in nature and that the companies have seen the worst of this crisis and will start to rebound.
              Various news outlets have reported that TNFINC itself has granted a grace period to the YRCW companies to make their Health, Welfare and Pension contribution payments that are due this month and perhaps over the next few months. That is not accurate. TNFINC was/is not in a position to agree on behalf of the various funds. Rather, what has occurred is that the YRCW companies have approached the overwhelming majority of benefit funds, which are separate legal entities, and requested an extension of time within which to make the required payments. The vast majority of the various benefit funds contacted are working with the YRCW companies in order to get through this current situation and to ensure that the YRCW bargaining unit employees maintain their health benefit coverage. Such cooperation by the various benefit funds is certainly appreciated and in the best interests of all concerned, particularly the members and their families. Indeed, the YRCW companies, like all of our freight employers, are a critical component of our nation’s economic recovery. Moreover, our tireless and brave members working for these companies are on the front lines in the fight against the COVID-19 virus and deserve all of the help and support available.
              I also would like to again dispel any rumors about concessions. The Company has not requested any concessions from TNFINC.
              In closing, we will keep you informed of any further developments.
              https://teamster.org/sites/default/f...ns20200423.pdf

              Comment


              • #8
                Re: YRC and healthcare

                Latest update from the Teamsters concerning YRC and the H&W payments, etc.

                From: Ernie Soehl, Director, National Freight Division
                Date: May 9, 2020
                This update pertains to Central States Health and Welfare Fund (TeamCare). As I indicated previously, the YRCW companies have experienced a decline in volumes and revenues over the past few weeks due to the COVID-19 pandemic. As a result, YRCW has approached the overwhelming majority of benefit funds, which are separate legal entities, and requested extensions of time within which to make the required health, welfare and pension contribution payments for the months of March, April and perhaps additional months. TeamCare has been engaged in substantial discussions with YRCW for the past several weeks in this regard and has continued to provide health coverage during this time frame.
                On Friday, May 8, 2020, TeamCare issued a notice stating that YRCW is officially delinquent and advising Local Unions that it is mailing to participants a notice placing the Company in
                “suspension of benefits status” effective May 10 (this Sunday). This normally would mean that any health claims incurred by members or their families after May 9, 2020 would not be paid by the Fund unless and until YRCW resolves the delinquency (or the member remits self-contributions (COBRA) to maintain coverage).
                However, due to YRCW’s unique situation, the Fund Trustees have now agreed to allow TeamCare “Layoff Coverage”, to apply to actively working members during YRCW’s suspension of
                benefits period for a maximum of 8 weeks. Therefore, eligible claims incurred after May 10 should still be paid for the next 8 weeks even though YRCW is on suspension of benefits status.
                We recognize that some employees may have already used a number of weeks of the “layoff coverage.” TNFINC has been working with YRCW and TeamCare to address potential lapses in
                coverage. In this regard, we can report that today arrangements have been made so that both active 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. This includes both employees who have been actively working and those who may have already used up some of the “layoff coverage.” In other words, even though YRCW is technically delinquent and has been placed in suspended benefit status, everyone WILL ALL RECEIVE A FRESH 8 WEEKS OF CONTINUED COVERAGE AS OF MAY 10.
                The continued coverage will, however, deplete the eight weeks of “layoff coverage” going forward, even for those employees who are not laid off. Please encourage members to visit
                MyTeamCare.org if there are specific questions about coverage, particularly since the Fund’s determinations will be controlling.
                Meanwhile, it is hoped that over the next eight weeks, YRCW’s business and financial situation will improve and that the Company can cure the delinquency and return to normal status. In fact, we have seen volumes improve over the past two weeks and some laid off employees have been recalled to active status.
                https://teamster.org/sites/default/f...updatemay9.pdf

                Comment


                • #9
                  Re: YRC and healthcare

                  Originally posted by fxstc07 View Post
                  Latest update from the Teamsters concerning YRC and the H&W payments, etc.



                  https://teamster.org/sites/default/f...updatemay9.pdf
                  A coworker called me Saturday when he seen this notice just laying around in the break room... might haven't been this particular print but what he told me is in this letter.

                  Comment


                  • #10
                    Re: YRC and healthcare

                    Originally posted by Jimmy View Post
                    A coworker called me Saturday when he seen this notice just laying around in the break room... might haven't been this particular print but what he told me is in this letter.
                    Maybe this was what they were talking about. Dated May 8.

                    TEAMCARE ANNOUNCES YRCW DELINQUENCY
                    Today, TeamCare notified all locals and sent a letter to all YRCW Teamsters that YRC and Holland are delinquent on their March 2020 contributions and that they will be unable to pay contributions for work performed in April and May, which will mean a $75 million delinquency to the H&W Fund.
                    YRCW has applied for emergency pandemic funds under the CARES Act, which could help the situation.
                    http://www.tdu.org/teamcare_announces_yrcw_delinquency

                    Comment


                    • #11
                      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

                      Comment


                      • #12
                        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

                        Comment


                        • #13
                          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/

                          Comment


                          • #14
                            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.

                            Comment


                            • #15
                              Re: YRC and healthcare

                              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 ...

                              Comment

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