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FedEx Freight | 401k

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imported_BIGBADWOLF

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I just wonted to know what's up with the 401k being taking out of my check. I didn't sign up for it. I asked my Service manager about it and he said you can't do anything about it. It automatically comes out of your check what the hell is that. Any body having the same problem with Vanguard. At FedEx.
 
you have to put it in writting that you don't want to contribute.your scm is wrong.ask gtr where to send the letter he knows everything
 
We got notice of this a while back ...seems like it came in the mail ...you need to look at this stuff before it goes in the can ... ya ya I know.
 
Did you all get that 204h packet sent to you via mail from fedex? It is mandatory that a company sends this notice out to let you know of a reduction in your pension. ie the new portable pension fedex is forcing us into!
Have a nice day now.
 
irudedog said:
did you all get that 204h packet sent to you via mail from fedex? It is mandatory that a company sends this notice out to let you know of a reduction in your pension. Ie the new portable pension fedex is forcing us into!
Have a nice day now.
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what! I don't think i got it yet
 
BIGBADWOLF said:
I just wonted to know what's up with the 401k being taking out of my check. I didn't sign up for it. I asked my Service manager about it and he said you can't do anything about it. It automatically comes out of your check what the hell is that. Any body having the same problem with Vanguard. At FedEx.
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You must have been hired after March of this year. The 401k is a very important part of Fedex's retirement plan. It is 401k with the match, the pension and SS if its still there. Fedex made sure to tell everyone that everyone, even part timers will be eligible for the same plan the full timers are with the same match. They said they we were all going to be automatically enrolled around March and start them on a 3% deduction. The employees that were already in the plan were bumped up to 3 percent if they were contributing less than 3. The employees contributing 3 percent or more were unaffected.

Fedex wanted everyone to be involved for what reason IDK?? You can stop it at any time you want. Since you must have been hired after march, you only had to wait 30 days for the 401k to start so there wasn't enough time to contact corporate and stop you from getting automatically enrolled. IMO that would be dumb(form not having an option to stop it before it starts that is). The employees were given a chance to decline the 401k in the beginning of the year, but they had plenty of time to give notice. You just didnt know about it.

If you dont plan on staying at Fedex then get out, if you plan on staying then the 401k is important to your complete retirement plan.
 
BIGBADWOLF said:
I just wonted to know what's up with the 401k being taking out of my check. I didn't sign up for it. I asked my Service manager about it and he said you can't do anything about it. It automatically comes out of your check what the hell is that. Any body having the same problem with Vanguard. At FedEx.
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BIGBADWOLF :1036316054:

The 401K plan is the best thing since sliced bread.
If you contribute 6% of your paycheck, the company matches you 100% for the first 1% you contribute and then they match you 50% for the other 5% you contribute, for a total of 3.5% match that when added to your 6% gives you a total of 9.5% of your gross before tax income.
If you decide to opt out of the 401K plan you would in essence be leaving 3.5% of your gross income on the table.
As an example if you gross 80,000 dollars per year you would be walking away from 2800 dollars that FDX would be contributing toward your retirement.
Also the 4800 dollars per year that you would be contributing pre-tax helps to lower your adjusted gross income so that with any other deduction you may have can help you to lower your tax burden.
The 401K plan is a no brainer.
But only for those folks that want to take the time to educate themselves a little bit.
The younger you are the more you should contribute so that you can hopefully reach a minimum of 2 million dollars in your 401K so you too can reach critical mass.

:smilie_132:
 
River17 said:
BIGBADWOLF :1036316054:

The 401K plan is the best thing since sliced bread.
If you contribute 6% of your paycheck, the company matches you 100% for the first 1% you contribute and then they match you 50% for the other 5% you contribute, for a total of 3.5% match that when added to your 6% gives you a total of 9.5% of your gross before tax income.
If you decide to opt out of the 401K plan you would in essence be leaving 3.5% of your gross income on the table.
As an example if you gross 80,000 dollars per year you would be walking away from 2800 dollars that FDX would be contributing toward your retirement.
Also the 4800 dollars per year that you would be contributing pre-tax helps to lower your adjusted gross income so that with any other deduction you may have can help you to lower your tax burden.
The 401K plan is a no brainer.
But only for those folks that want to take the time to educate themselves a little bit.
The younger you are the more you should contribute so that you can hopefully reach a minimum of 2 million dollars in your 401K so you too can reach critical mass.

:smilie_132:
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River17

I agree with you here .... why would anyone leave ...FREE MONEY ...on the table. :1036316054:
 
River17 said:
BIGBADWOLF :1036316054:

The 401K plan is the best thing since sliced bread.
If you contribute 6% of your paycheck, the company matches you 100% for the first 1% you contribute and then they match you 50% for the other 5% you contribute, for a total of 3.5% match that when added to your 6% gives you a total of 9.5% of your gross before tax income.
If you decide to opt out of the 401K plan you would in essence be leaving 3.5% of your gross income on the table.
As an example if you gross 80,000 dollars per year you would be walking away from 2800 dollars that FDX would be contributing toward your retirement.
Also the 4800 dollars per year that you would be contributing pre-tax helps to lower your adjusted gross income so that with any other deduction you may have can help you to lower your tax burden.
The 401K plan is a no brainer.
But only for those folks that want to take the time to educate themselves a little bit.
The younger you are the more you should contribute so that you can hopefully reach a minimum of 2 million dollars in your 401K so you too can reach critical mass.

:smilie_132:
Click to expand...

Very good post River ! :1036316054:
 
River17 said:
BIGBADWOLF :1036316054:

The 401K plan is the best thing since sliced bread.
If you contribute 6% of your paycheck, the company matches you 100% for the first 1% you contribute and then they match you 50% for the other 5% you contribute, for a total of 3.5% match that when added to your 6% gives you a total of 9.5% of your gross before tax income.
If you decide to opt out of the 401K plan you would in essence be leaving 3.5% of your gross income on the table.
As an example if you gross 80,000 dollars per year you would be walking away from 2800 dollars that FDX would be contributing toward your retirement.
Also the 4800 dollars per year that you would be contributing pre-tax helps to lower your adjusted gross income so that with any other deduction you may have can help you to lower your tax burden.
The 401K plan is a no brainer.
But only for those folks that want to take the time to educate themselves a little bit.
The younger you are the more you should contribute so that you can hopefully reach a minimum of 2 million dollars in your 401K so you too can reach critical mass.

:smilie_132:
Click to expand...
2nd best I worked at a place that matched 100% of the 1st 5% you put in and you were 100% vested from day #1
 
tramp1155 said:
2nd best I worked at a place that matched 100% of the 1st 5% you put in and you were 100% vested from day #1
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tramp1155 :1036316054:

So what is the name of this great outfit.
And how come you still aren't there working.
Sounds like you are having buyer's remorse
over there at Roadway waiting for that two hour call.
How many more years will you have to wait for a bid run.
I bet you could have a bid run right away if you went on their sleeper team.
Then you too could be going down the road pulling triples,
like the best of us out here in the WEST.

:smilie_132:
 
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