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dancing chicken

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If anyone has ever been to a Saia meeting what’s one company that’s all ways brought up?? FED EX!! How long until Saia follows suit and suspends the 401k?? If it needs to happen so be it but just wondering?? Any guesses??????
 
that is a huge tax break for the company and employee lets hope not. hell they can keep the raise but and leave my 401 alone.
 
I see it happening,sooner than later....but lets see if the people at the top take the cut two,it will have to be filed with the scc.
 
When they announced our pay raise they did say that salaried and top management would NOT recieve a pay increase.
 
DANCING CHICKEN said:
If anyone has ever been to a Saia meeting what’s one company that’s all ways brought up?? FED EX!! How long until Saia follows suit and suspends the 401k?? If it needs to happen so be it but just wondering?? Any guesses??????
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DANCING CHICKEN :1036316054:


Just one small clarification.
FedEx did not suspend the 401K plan.
FedEx just stopped the company match (3.5% if you put in the first 6%).
You can still contribute to the max allowed by law.
Which in turn lowers your adjusted gross income along with any other deductions that you have for your taxes.
Oddly enough FedEx did not freeze or stop our pension plan. So that still keeps going.
Also in the west they are giving us around a couple of cents raise per mile to give us parity with our east (AF) drivers.

:popcorn:
 
River17 said:
DANCING CHICKEN :1036316054:


Just one small clarification.
FedEx did not suspend the 401K plan.
FedEx just stopped the company match (3.5% if you put in the first 6%).
You can still contribute to the max allowed by law.
Which in turn lowers your adjusted gross income along with any other deductions that you have for your taxes.
Oddly enough FedEx did not freeze or stop our pension plan. So that still keeps going.
Also in the west they are giving us around a couple of cents raise per mile to give us parity with our east (AF) drivers.

:popcorn:
Click to expand...

"When the FedEx Corporation slimmed down its pension plan last year, it softened the blow by offering workers enriched 401(k) contributions to make up for the pension benefits some would lose. But last week, with Americans sending fewer parcels and FedEx's revenue growth at a standstill, the company said it would suspend all of its contributions for at least a year" benefitslink.com. . :1036316054:
 
DANCING CHICKEN said:
"When the FedEx Corporation slimmed down its pension plan last year, it softened the blow by offering workers enriched 401(k) contributions to make up for the pension benefits some would lose. But last week, with Americans sending fewer parcels and FedEx's revenue growth at a standstill, the company said it would suspend all of its contributions for at least a year" benefitslink.com. . :1036316054:
Click to expand...


DANCING CHICKEN :1036316054:

What you quoted there, is probably true for FedEx Express, the largest division. I was mainly referring to FedEx Freight which is closer to SAIA and operates trucks and not mostly airplanes. The different operating units had different pension and 401K plans and now they are trying get them mostly all the same.

:popcorn:
 
Well in our meetings they don’t say FedEx freight, fedex ground, fedex package, fedex short, fedex tall, fedex round, fedex square, fedex this, or fedex that, or fedex green eggs and ham they just say FEDEX! I don’t care what part of fedex it is or what division!! If its something from what ever division that would benefit our company it seems to them a great idea to follow!! Cutting the 401k to me seems like a great way to save money and I wonder how long until we get the news!! If they need to do it I don’t care if it helps stay competitive and keep the gates open!!
 
it's funny how they use fed-ex as an example when they do something like the 401k freeze............but they use aaa cooper and southeastern and averitt when it comes to pay raises.hmmmmmmmmmmmmmmmmmmmm
 
Confirmed. It has temporaly stoped. Meeting tonight for outbound linehaul later today.
I wonder if I should continut to buy into my 2020 plan and hope cost adverage buying will work for me (gettin more shares at lower prices now, or pull out and go into a Money Market. What if every one pulls out of the market?
 
Ro Ho said:
Confirmed. It has temporaly stoped. Meeting tonight for outbound linehaul later today.
I wonder if I should continut to buy into my 2020 plan and hope cost adverage buying will work for me (gettin more shares at lower prices now, or pull out and go into a Money Market. What if every one pulls out of the market?
Click to expand...


Ro Ho :smilie_132:

Only you can decide what is best for your case.
But selling out now at the bottom to go to money market, maybe something you may regret later.
On the other hand you could try doing what I do, and see if it works for you.
I have future contributions going to money market fund every paycheck, and then when I see a buying opportunity I buy over the internet (usually 15 minutes before the market closes at 4pm ET).
You are still dollar cost averaging, but when you choose and not when prices are higher.
btw: if you want to follow the market and latest trucking news, just go to FedEx Freight board and read:
Some Trucking Companies also had a BIG bounce.

Good Luck.

:popcorn:
 
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