I'm guessing what he's talking about is not YRC specific but Central States Teamsters related. They are broke and sending out letters telling members that pensions will be reduced or turned over to Pension Guaranty Board which automatically cuts your pension by 50%. Not a fan of unions but this is gonna hurt a lot of guys both currently retired and future retirees. Central States is insolvent. A retiree friend of mine showed me the letters he got and they place a lot of blame on YRC's situation. In reality, the teamster stole and squandered your pension money that was paid in on your behalf
Attn YRC employees
Discussion in 'YRC' started by Fed up, May 6, 2015.
Page 2 of 11
-
rabbiporkchop, Dominick253, drvrtech77 and 1 other person Thank this.
-
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
-
So much for the union protecting you...that's why I have said in the past and will continue to say...unions are garbage, paying those dues so the bigwigs can look good in their $5k suits....
rabbiporkchop, Dominick253, 91B20H8 and 2 others Thank this. -
YRC has been on pension cuts for 7 years, where have you been? And fwiw, the union has kept that pension going as long as they could, the new laws voted in are what is screwing you, the pbgc is underfunded. Want to blame someone, start with the anti-union idiots that "know it all" but have nothing but bs stories and a chip on their shoulder. That wouldn't be you, would it?
Pintlehook, White_Knuckle_Newbie, ACH1130 and 2 others Thank this. -
Well you guys should make a contract that puts your pay into your pension. At my job 3% if my check goes towards my pension. It sucks but at the same time we got more say in our plans. Then the teamsters can't use the excuse they can't pay it.
Also ths is the first I'm hearing this. My old local when I worked at YRC was broke but guys who retired still had full pensions -
I'm not counting on Central States for anything. That's why I started up a 401k (not the Teamster 401k, are you kidding?) If I do get any kind of pension from them, that will just be icing on the cake, not counting on nadda. Besides, 10 years ago they told us anyone with less than 10 years in; don't expect anything. I'll take them for their word on that.crazeydude Thanks this. -
-
misterG Thanks this.
-
White_Knuckle_Newbie and already gone Thank this.
-
already gone Thanks this.
-
That should be criminal for a company to default on pension obligations. Do they have a conscience?
The Patriot Thanks this.
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
Page 2 of 11