Page 2 of 2 FirstFirst 12
Results 11 to 15 of 15
Like Tree22Likes

Thread: Which Side is Your Pension On?

  1. #11
    Not So Fast Scabs

    Join Date
    Jul 2009
    Local Union
    957
    Employer
    USF Holland
    Location
    Dayton
    Posts
    2,022
    Rep Power
    193

    Default Re: Which Side is Your Pension On?

    I asked a "funny" question to lady bout YRC start to pay back in fund if I would get my disability back and she said they would have to pay back all the back pay and up to date. WELL since they are 25% in now and stopped in 2010 I should be able to collect when they get to 2012 (last year I worked) in say 8 years right?

  2. #12
    Scab Hating Union Thug

    Join Date
    Aug 2009
    Local Union
    222
    Employer
    YRC
    Location
    Utah
    Posts
    26,247
    Rep Power
    1133

    Default Re: Which Side is Your Pension On?

    Quote Originally Posted by Kickass View Post
    They survived because they knew they could get away with it, as far as moving on to another contributor, still kicking myself for not making the move 5 years ago, others tried but now are back at yrc because no one wants to start at the bottom when your mind & body are beat to hell.
    I hear you. We had one hired at ABF that returned to YRC. I am still trying to figure that one out. I would say about a dozen left for ABF. We lost a few to dairy. A few more to construction. The rest went onto life in whatever they could find after the layoffs. I have my pension locked so all this is to me is a paycheck and insurance. I will more than likely go back to construction. I really enjoyed it and the outfit I worked for treated us well and appreciated our efforts.
    Last edited by 222lifer; 05-16-2014 at 10:16 PM.

  3. #13
    Scab Hating Union Thug

    Join Date
    Aug 2009
    Local Union
    222
    Employer
    YRC
    Location
    Utah
    Posts
    26,247
    Rep Power
    1133

    Default Re: Which Side is Your Pension On?

    Quote Originally Posted by crazy View Post
    That was in a time when there were many other companies to go to.. not the case anymore..
    So right you are.

  4. #14
    Retired !

    Join Date
    Feb 2009
    Local Union
    107
    Employer
    Retired - New Penn
    Location
    South Jersey
    Posts
    13,227
    Rep Power
    310

    Default Re: Which Side is Your Pension On?

    Quote Originally Posted by BilyWamBam View Post
    I asked a "funny" question to lady bout YRC start to pay back in fund if I would get my disability back and she said they would have to pay back all the back pay and up to date. WELL since they are 25% in now and stopped in 2010 I should be able to collect when they get to 2012 (last year I worked) in say 8 years right?
    When I retired, I asked if YRC were to pay the pension fund what they owed, would my amount increase.
    Point blank I was told, it wasn't in the MOU agreement to pay back, or catch-up on the contributions.
    What I got is what I will get ... period.
    I am surprised that CSPF removed any disability issue.
    That, IMO is not fair.

  5. #15
    I Am Rocking Now

    Join Date
    Mar 2008
    Local Union
    560
    Employer
    Retired ABF/Red Star
    Location
    S. Carolina
    Posts
    4,690
    Rep Power
    741

    Default Re: Which Side is Your Pension On?

    Corporate America blames the unions but here is more proof that the federal government is responsible for our pension underfunding.


    For obvious reasons, the pension funds didn't want to go to employers and explain why their contributions suddenly weren't tax deductible any more. But the IRS rules had them in a difficult place. The rules were very clear: if the fund was overfunded, you had to either stop making contributions, or increase the benefits. And the IRS refused to budge. So the pension plans increased the benefits.

    The MEPs emerged from the dotcom crash not only with less funding than they should have had, but also burdened with a much richer set of benefits they had to pay out. Moreover, the 2001 recession had pushed a number of their member employers into bankruptcy. They left behind big unfunded liabilities--"orphan liabilities"--that by the rules of the plans, ended up spread around the remaining members. Suddenly, a big portion of everyone's hourly wage was going to make up for all those unaffordable promises, many of them made to the unemployed workers of bankrupt firms. Almost overnight, the union pension plan went, as one expert told me, from "an organizing tool, to a disorganizing tool". An open shop competitor that didn't have that big pension gap to fund could come along and woo your workers and customers by paying workers a higher wage, with good benefits and a 401(k), while still undercutting you on price. All because he didn't have to put $1 an hour towards the pension fund's unfunded liability.

    How the IRS Wrecked Your Pension - The Daily Beast
    ABFwife likes this.

 

 
Page 2 of 2 FirstFirst 12

LinkBacks (?)

  1. 05-15-2014, 12:28 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336