XPO | Pension payout

freightman68

TB Lurker
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Has anyone received their pension payout yet? They are supposed to be paid in December. I have not received mine and I am always a little anxious when I know a check is coming in the mail until it’s in my hand.
 
I never knew they were doing a payout

Information was sent directly to the homes of former employees. We discussed in a pre-shift meeting but I don't remember anything being posted about it. The only reason I can see behind this offering is to get the financial liability off the books which is similar to why they offered salaried employees to cash in PTO time (earned prior to 2017) for 50 cents on the dollar. Depending on how you're looking for your retirement and the amount that you have in your pension, it could be a good offering but certainly reduces the financial liability for the company (makes them look better to Wall St).
 
Information was sent directly to the homes of former employees. We discussed in a pre-shift meeting but I don't remember anything being posted about it. The only reason I can see behind this offering is to get the financial liability off the books which is similar to why they offered salaried employees to cash in PTO time (earned prior to 2017) for 50 cents on the dollar. Depending on how you're looking for your retirement and the amount that you have in your pension, it could be a good offering but certainly reduces the financial liability for the company (makes them look better to Wall St).
Your spot on this time Sir
 
Your spot on this time Sir

Ha...don't get called sir very often!
Anything I post is either direct information that I have first hand knowledge of, information that I have confirmed, or simply my opinion.
If it's just my opinion, I'll clarify so nobody thinks that I'm just pushing rumors.
I am certainly not an expert so I won't try to play one on the internet!
 
Would it be too forward to ask how much the payout was for how many years credit in the pension plan?
I started in 2003 and my choice was something like 40 dollars a month when I was 65 or 11332.83 now...I might be a little off on the 40 dollars a month I can’t remember right this minute but it wasn’t very much.
 
I started in 2003 and my choice was something like 40 dollars a month when I was 65 or 11332.83 now...I might be a little off on the 40 dollars a month I can’t remember right this minute but it wasn’t very much.
Can you role that directly into another retirement account?
Never mind just read your above post and see you took the check . Must have hit you hard in taxes unless your at retirement age. Enjoy!
 
Former driver at our barn was offered 35k. His finiacial advisor / tax guy advised him not too take the buyout.
 
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