Central States going broke---

[BigUnionGuy]

Those employers took advantage of tax and bankruptcy laws to escape their obligation. But many are still in business with re-iterations of ownership and name changes. Some even kept their name after stiffing their pension obligation...eg Hostess.

What's that remind you of ?

How about Consolidated Freightways (CF) and their non-union subsidiary Con-Way.

 

[IVE GOTTA PACKAGE 4U]

You said based on 40 hours, not 2080. There is a big difference.

40 hours a week times 52 weeks is 2080

 

[1989]

40 hours a week times 52 weeks is 2080

If it was only straight time. You don’t work 40 hours in a week you won’t make the 2080 max.

 

[IVE GOTTA PACKAGE 4U]

If it was only straight time. You don’t work 40 hours in a week you won’t make the 2080 max.

You're missing my point. All I'm trying to tell you they're not going to put in your extra money beyond the $0.50 and I already was taken out for 40 hours a week

 

[1989]

You're missing my point. All I'm trying to tell you they're not going to put in your extra money beyond the $0.50 and I already was taken out for 40 hours a week

I understood what you were trying to say on your second post. That language would be in their supplement or written in the pension plan.

 

[IVE GOTTA PACKAGE 4U]

I understood what you were trying to say on your second post. That language would be in their supplement or written in the pension plan.

I have the same issue here and I'm telling you that is how it works.

 

[What'dyabringmetoday???]

I have the same issue here and I'm telling you that is how it works.

You should get one of those 401K things.

 

[IVE GOTTA PACKAGE 4U]

You should get one of those 401K things.

I'm thinking about it

 

[What'dyabringmetoday???]

I'm thinking about it

Seems like you have plenty of free time for something like that.

 

[1989]

I have the same issue here and I'm telling you that is how it works.

There is nothing in your supplement or by your pension administrator about “raise allegations” to be for ALL hours worked?

 

[IVE GOTTA PACKAGE 4U]

There is nothing in your supplement or by your pension administrator about “raise allegations” to be for ALL hours worked?

Let me try this for one last time
All pension contributions are based on a 40-hour work week, with that being said You must have 1800 hours a year to get a full pension contribution.
No for love of God please knock the smile* off cuz you get on my nerves

 

[1989]

Let me try this for one last time
All pension contributions are based on a 40-hour work week, with that being said You must have 1800 hours a year to get a full pension contribution.
No for love of God please knock the smile* off cuz you get on my * nerves

So no contributions while you are sorting your car before start time and during lunch?

 

[IVE GOTTA PACKAGE 4U]

So no contributions while you are sorting your car before start time and during lunch?

I get a free donut

 

[Overpaid Union Thug]

Just another fund being bled dry by Locusts / Boomers. They weren't satisfied with killing social security and medicare.

They killed them but still demand them.

 

[IVE GOTTA PACKAGE 4U]

They killed them but still demand them.

Don't waste your time with him

 

[rod]

Just another fund being bled dry by Locusts / Boomers. They weren't satisfied with killing social security and medicare.

Well if you would pay your fair share

 

[Inthegame]

What's that remind you of ?

How about Consolidated Freightways (CF) and their non-union subsidiary Con-Way.

Con-Way is perhaps the best example of my earlier statement.

Amazingly (not really) Con-Way survived the 2002 CF bankruptcy and continued operations after all the union CF employees were termed.
Then in 2009 Con-Way and the CSPF settled the unfunded pension liability suit for $8 million of the $662 million owed. That's $0.012 cents for every dollar owed.

Bizarrely people accuse the CSPF of mismanagement when this example was played over and over by hundreds of other employers aided and abetted by congressionally passed laws giving short shrift to working men and women in favor of corporate interests.

Con-Way (which was eventually purchased by XPO) was Consolidated Freightways pure and simple, and took full advantage of laws that allowed it to escape their dutiful obligation to their workers. That "Con" in their name was very fitting. It was a real "con" way of doing business.

The pension fix is a remedy long overdue.

 

[1989]

Con-Way is perhaps the best example of my earlier statement.

Amazingly (not really) Con-Way survived the 2002 CF bankruptcy and continued operations after all the union CF employees were termed.
Then in 2009 Con-Way and the CSPF settled the unfunded pension liability suit for $8 million of the $662 million owed. That's $0.012 cents for every dollar owed.

Bizarrely people accuse the CSPF of mismanagement when this example was played over and over by hundreds of other employers aided and abetted by congressionally passed laws giving short shrift to working men and women in favor of corporate interests.

Con-Way (which was eventually purchased by XPO) was Consolidated Freightways pure and simple, and took full advantage of laws that allowed it to escape their dutiful obligation to their workers. That "Con" in their name was very fitting. It was a real "con" way of doing business.

The pension fix is a remedy long overdue.

Since they only contributed 1.2% of their obligation, those workers should only receive 1.2% in benefits. In the west that’s a $96,000 gross payout for the whole company.

 

[BigUnionGuy]

Since they only contributed 1.2% of their obligation, those workers should only receive 1.2% in benefits.

Union members that worked in good faith and had monetary benefits paid on their behalf, should not be penalized.

 

[Karma...]

you are absolutely right....unfortunately the term ..let the buyer beware.. applies here as well.....I would think that the Teamsters will honor their commitment to the members and come across with a good retirement including no cost to the members medical, dental and vision plan.