CALLING CON-WAY FREIGHT DRIVERS: LLA {Con-Way Freight} Teamster Vote 9/12/14

12 ga · Dec 9, 2014

already gone said: ↑

and there is a 3 hear progression to the .54 cpm, yep. but why dont YOU compare your benefits? i know what you guys pay, whether you will admit it or not, others already have. and your wife is forced off the plan IF she has any insurance available!

and on top of that, the retirement match is only 30 dollars on the 1000 gross, which is nothing. i ve worked under a NEGOTIATED 401k where they gave us an automatic hourly contribution, just like a pension. you couldnt make enough at OD to get what i received without contributing a penny.

and why dont you ask that YRC guy about how much he makes on layover and breakdown. you guys donate 4 hours, then only get 7.50. YRC driver is IMMEDIATELY on the clock at over 21 an hour.

with all the "benefits" of working for OD, you can keep it, id still take YRC any day of the week. hell, the "raises" you guys got almost got you on par with 2008 union scale. wow.
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You are doing a good job presenting the facts already gone, but their ignorance is their bliss.

sdaniel · Dec 10, 2014

already gone said: ↑

and there is a 3 hear progression to the .54 cpm, yep. but why dont YOU compare your benefits? i know what you guys pay, whether you will admit it or not, others already have. and your wife is forced off the plan IF she has any insurance available!

and on top of that, the retirement match is only 30 dollars on the 1000 gross, which is nothing. i ve worked under a NEGOTIATED 401k where they gave us an automatic hourly contribution, just like a pension. you couldnt make enough at OD to get what i received without contributing a penny.

and why dont you ask that YRC guy about how much he makes on layover and breakdown. you guys donate 4 hours, then only get 7.50. YRC driver is IMMEDIATELY on the clock at over 21 an hour.

with all the "benefits" of working for OD, you can keep it, id still take YRC any day of the week. hell, the "raises" you guys got almost got you on par with 2008 union scale. wow.
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Defensive much? I am very happy! Why are you not? And you clearly do not know about us.And your last statement misses the point he was making 3/4 of me! Show me $500 a week in benefits ! WOW! He needs 24 hours of yard time to catch up. But then his miles will be short. Talk about Kool Aid . My cow died, do not need your bull. Missing the fact , there is no pension contributions for the next few years. Come join us and be happy too. Where did you get .54 top pay? Solo is .60 . Last year the total match on the 401k was .76 on the 1.00. Have not met a unhappy co-worker yet. And none of what you pointed out address the losses YRC has encountered the pass few years. When will the plug be pulled? Selling Glenn Moore helped year before last , but in two years 600 million was lost. Hope they never do fail , lot of drivers would be out of work. And sadly many more retirees may be left out in the cold.

sdaniel · Dec 10, 2014

semi retired semi driver said: ↑

You are doing a good job presenting the facts already gone, but their ignorance is their bliss.
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"Facts" he thought he knew. But showed his ignorance. Did not get a single "fact" correct. Enjoy your bliss.

12 ga · Dec 10, 2014

sdaniel said: ↑

"Facts" he thought he knew. But showed his ignorance. Did not get a single "fact" correct. Enjoy your bliss.
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You could not resist it could you. My bliss comes in the form of a $3000 check the first of every month, from the Teamsters Central States Pension fund. Every month since June 2001. Then add another 19K for Social Security. Oh I almost forgot another 12K -15K or so for driving part time. I think my BLISS is doing very well. I hope everyone out there had so much BLISS but sadly I think it will never happen.

sdaniel · Dec 10, 2014

If I retire today , my 401k would give the same 3k a month. But plan on working another 25 years . Glad you are happy. But calling names makes you look sooooooo smart.

already gone · Dec 10, 2014

sdaniel said: ↑

Defensive much? I am very happy! Why are you not? And you clearly do not know about us.And your last statement misses the point he was making 3/4 of me! Show me $500 a week in benefits ! WOW! He needs 24 hours of yard time to catch up. But then his miles will be short.
not defensive, ive talked to OD drivers, and i know what you get paid, and DONT, so dont pretend there is a 500 dollar a week difference, unless of course, if you think we get the big 7.50 like you.

Talk about Kool Aid . My cow died, do not need your bull. Missing the fact , there is no pension contributions for the next few years.
do you actually know anyone that is at YRC? 25% is contributed, still double what you 50% match of 6% gross. keep it up with the smoke and mirrors show though.
Come join us and be happy too. Where did you get .54 top pay? Solo is .60 . Last year the total match on the 401k was .76 on the 1.00. Have not met a unhappy co-worker yet.
where did you get a 12 cpm difference? YRC is a nickel less than you, with free insurance, and STILL more than your 30 dollars on the thousand, if you max it out that is....

And none of what you pointed out address the losses YRC has encountered the pass few years. When will the plug be pulled? Selling Glenn Moore helped year before last , but in two years 600 million was lost. Hope they never do fail , lot of drivers would be out of work. And sadly many more retirees may be left out in the cold.
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look around, the regionals ALWAYS make money, and yrc made money last quarter too.

already gone · Dec 10, 2014

sdaniel said: ↑

If I retire today , my 401k would give the same 3k a month. But plan on working another 25 years . Glad you are happy. But calling names makes you look sooooooo smart.
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if your 401k has that much money, your taking a big paycut compared to a guy with a pension, OR, more than likely you have some lame excuse as to why you dont retire, because you would have 3k a month for 6 years. the pension money DOESNT come out of our check. so your family doesnt have to take a hit in the wallet, get it?

you preach happiness, but i dont see it, only delusion....

already gone · Dec 10, 2014

sdaniel said: ↑

"Facts" he thought he knew. But showed his ignorance. Did not get a single "fact" correct. Enjoy your bliss.
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oh, but i did. you OD guys like to hide the payscale, the retirement, the "benefits"....how about that sweet benefit of your company for when your load isnt ready? then you get to sit there off the clock, until it is. another perk of a company with 100 dollar a week benefits, no overtime, and no pension! sweet!

already gone · Dec 10, 2014

sdaniel said: ↑

If I retire today , my 401k would give the same 3k a month. But plan on working another 25 years . Glad you are happy. But calling names makes you look sooooooo smart.
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btw, ignorance isnt a name.....

sdaniel · Dec 10, 2014

Rockin&Rollin said: ↑

Millions of Americans are getting their union pensions severally chopped = it looks like all those promises unions were making are worthless.

Deal reached to allow pension plans to cut benefits

A bipartisan group of congressional leaders reached a deal Tuesday evening that would for the first time allow the benefits of current retirees to be severely cut, part of an effort to save some of the nations most distressed pension plans.

The measure, attached to a massive $1.01 trillion spending bill, would alter 40 years of federal law and could affect millions of workers, many of them part of a shrinking corps of middle-income employees in businesses such as trucking, construction and supermarkets.

We have to do something to allow these plans to make the corrections and adjustments they need to keep these plans viable, said Rep. George Miller (D-Calif.), who along with Rep. John Kline (R-Minn.) led efforts to hammer out a deal.

The idea is reluctantly supported by some unions and retirement fund managers who see it as the only way to salvage pensions in plans that are in imminent danger of running out of money. But it also has stirred strong opposition from retirees who could face deep pension cuts and from advocates eager to keep retiree pensions sacrosanct, even in cases when funds are in a deep financial hole. The advocates argue that allowing cuts to plans would open the door to trims for other retirees later.

We thought our pension was secure, said Whitlow Wyatt, a retired trucker who lives in Washington Court House, a small city in central Ohio. That was always the word. Now they are changing that.

Wyatt, 70, retired with a $3,300-a-month pension in 2000 after working more than 33 years as a long-haul driver. He could face pension reductions of 30 percent or more if Congress permits trustees of the hard-pressed pension fund to slash benefits.

The deal is aimed at helping plans such as the Teamsters Central States fund.

The pensions earned by truckers in the fund are among the best enjoyed by working-class people anywhere: After 30 years on the road, many of its participants are entitled to upward of $3,000 a month for the rest of their lives.

But now the fund, rocked by steep membership declines, an aging workforce and downturns in the stock market, is in dire financial straits, putting the retirement benefits of 400,000 participants in jeopardy.

The deal reached would apply to multi-employer pensions, where a group of businesses in the same industry join forces with unions to provide pension coverage for employees. The plans cover some 10 million U.S. workers.

Overall, there are about 1,400 multi-employer plans, many of which remain in good fiscal health and would be untouched by the deal. But several dozen have failed, and several other large ones, including Central States, are staggering toward insolvency.

In its annual report last month, the Pension Benefit Guaranty Corp., the federal insurance program that backs private-sector pensions, warned that the problems facing multi-employer pensions could cause the safety net that secures them to collapse within the next decade.

If that happens, retirees depending on multi-employer plans for their pensions would receive nothing if their plans failed. (A separate PBGC insurance fund covering single-employer private pensions is in much better financial shape.) Even if the insurance fund survives, maximum coverage for people in multi-employer plans is minimal about $13,000 a year.

Although it has issued similar alerts in the past, the PBGCs latest warning seems to have pushed Congress to move from studying a policy change to actively negotiating for one in recent weeks.

The abrupt action has alarmed some pension rights advocates, who are concerned about a decline in retirement security for all Americans. They also worry about a creeping trend toward trimming pensions, citing retirement benefit cuts for government employees in Detroit and elsewhere.

But managers of deeply troubled funds say that absent a federal bailout, which they call politically infeasible, cutting benefits is the only way to save them. Last week, more than 1,300 employers sent letters to members of Congress urging lawmakers to back the proposal to allow benefit cuts.

The longer we wait to take action, the more severe the impact on retirees and workers in the plans in the worst financial shape will become, business leaders wrote. The longer we wait, the heavier the burden will become on employers struggling to fund and extend these pension plans.

That is the situation confronting the Central States plan, which was notorious in the 1960s and 70s for being used as a slush fund for organized crime. Since then it has operated under federal court supervision and with the help of professional fund managers. Yet that has not been enough to overcome demographic and other trends that have weakened its finances.

In 1980, the Central States fund had four active participants for every retiree. Now, there are nearly five retirees or inactive members for every worker, because many unionized trucking firms have gone out of business in the decades since deregulation, Thomas C. Nyhan, executive director of Central States, told Congress earlier this year.

The fund has about $18 billion in assets and pays out annual benefits of $2.8 billion to retirees. But it receives just $700 million each year from employers. Even given the strong stock market returns of recent years, that puts the plan on course to run out of money within the next 10 to 15 years, Nyhan has said.

The fund ran into trouble during the dot-com crash of the early 2000s. Also, United Parcel Service, once the largest firm in Central States, paid more than $6 billion to drop out of the fund in 2007. Much of that money was lost when the market tanked in 2008, leaving the fund in perilous condition.

Some see cutting benefits preemptively as the only way to keep troubled plans such as Central States afloat. Under the agreement reached by congressional negotiators, retirees over age 75 as well as those who are disabled would be shielded from any reductions. Also, any benefit cuts would be subject to a vote of plan participants.

Nonetheless, many retirees feel betrayed. I never dreamed they would pull the rug out from under us, said Greg Smith, 66, a retired shipping clerk who retired in 2011 with a $3,000-a-month pension after 42 years on the job. I actually retired because I was worried about them cutting pensions. I thought I would be grandfathered in with protections. But I guess not.
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This is close to what I feared may have been coming. Not trying to up set any one , but the same thing is happening to the SS system. Never thought SS would be there by time I retire. Can not think of a worse thing to do to past retirees . Like Semi Retired, they put their time in, and their trust in them. Have two pensions that I can start drawing in 10 years,( do not see me wanting to retire at 52) but am not counting on them to be there. Have made my own plan. Now only I can disappoint Me. Now you can see why I do not trust promises. Will not use that I word, but mislead instead. But when I hear this promise or that promise from the same people who are failing those who trusted them, it rubs the wrong way.

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CALLING CON-WAY FREIGHT DRIVERS: LLA {Con-Way Freight} Teamster Vote 9/12/14

12 ga THE VIEW FROM MY OFFICE

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