The Cryo Hauler Thread

I have 15 more years to work before retirement, so, in addition to many other reasons, I'm interested in working for Linde because they have a 4% pension plan + 5% 401k match. (My current fuel job has no pension + 5% 401k match)
However, I bumped into two separate Linde drivers from La Porte, Indiana, and both of them said that they do not get a pension even though it says pension on the job ad.
Some Linde driver job ads say fully vested after 3 years, others proudly say pension others meekly say pension. None of the ads say we no longer offer pension to new drivers.
I just hope to know what the deal is before I apply and find out from the recruiter that there's a deal-breaker in there somewhere. Thank you for the help and the clarification. I appreciate it.

 

They get a pension just not a traditional one.
Based on your earnings

 

22 years flatbed/specialized/heavy haul...with KAG hauling chemicals for the last year and a half...currently in the long onboarding process with Linde.

Interesting reading, thanks guys... all 200+ pages over the last few days.

 

Here at AP
Day cab Lin,Lox,Lar are the same pay.

Hydrogen, helium, and team lin, lox, lar have their own pay scales.

Hydrogen has the higher pay of them all

 

AP matches 50% of 401k contributions up to 6% of paycheck. They also pay weekly nonelective contributions that come out to around 6% of your weekly pay.

100% fully vested from day 1.

We only have around 3-4 union shops still left. They probably have pensions instead of 401k

 

Do the non-elective contributions come from the company on behalf of the driver or from the driver's pay? Just want to be sure I understood you correctly. Thank you.

Also, do the non elective contributions go in some tax deferred investment vehicle like a 401k?

12% contribution to driver retirement is pretty darn good.

 

Yes. So the contributions come from AP and go directly into your 401k, IRA, Roth. Whichever plan you have setup through Fidelity.

So even if a person elects not to participate in the company match, you will still be receiving the non elective contributions part into your Fidelity account.

 

And at Linde pension contributions are auto and don't deduct from earnings while the 401k investments are employees choice on what and how much.