FedEx Pension

Discussion in 'XPO Logistics' started by sucker666, Mar 27, 2017.

  1. sucker666

    sucker666 Well-Known Member

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    Yes, I had heard years back that they had something started right around the time we lost ours but never looked into it. I posted here first thinking someone might know something about it,then I posted on their forum and thats where I Got the chart.
     
  2. icuicp

    icuicp Well-Known Member

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    I imagine you are being sarcastic.

    I have tried to get someone , anyone to help XPO drivers understand that there are various pay and compensation packages all across the company for those that do the same job and/or have the same qualifications.

    One of the differences that I believe is there is the company contributions to the 401k plan based on when you started working at XPO. At some point , there were ZERO contributions from XPO ( formally Con-way ) to 401k plans of those that started working after 2011. I remember being told in an employee "survey" ( called a one on one ) by my manager at the time ( about 5 years ago ) , " Those that started after 2011 haven't been receiving any contributions from the company but will begin receiving a 2% match."

    Am I remembering this correctly? Does anyone else recall these meetings? I think it was an effort to get the temperature of the drivers and calm down unionization talk.
     
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  3. rose glass

    rose glass Active Member

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    Total contribution from the company/ Conway was and still is about $750 each quarter into 401k
     
  4. peachykeen

    peachykeen Member

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    I started working at Con-Way in 2008 and all i have ever got was 2 percent into my 401k which equals to about $550 a year
     
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  5. rose glass

    rose glass Active Member

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    must be a scale somewhere on years of service/years before versus after whatever date they started.
     
  6. sucker666

    sucker666 Well-Known Member

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    I'm sorry but that is sad... especially for the "fastest growing company in the Fortune 500 "
     
    Last edited: Mar 31, 2017
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  7. Maltman

    Maltman Active Member

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    So you only made $27,500 last year? Are you a CSR or DSR? If you're a driver I have trouble believing this unless you only work 20 hrs a week.
     
  8. micshol

    micshol Member

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    Employer contribution was only about 750 the whole year for me. 2% of gross every quarter.
     
  9. upnorth

    upnorth Super Moderator Staff Member

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    We're taking about Conway years ago.
     
  10. sucker666

    sucker666 Well-Known Member

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    ???
     
  11. vppforme

    vppforme Member

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    I seem to remember the 401k was initially the Retirement Savings Plan (RSP) and at some point changed to the Personal Savings Plan (PSP). If you are in the RSP then your years of service would determine if you're getting 3%,4% or 5%. At some point, those hired after a certain date (maybe around 2011) were put into the PSP and had less generous terms. The lesser 2% contribution icuicp mentioned and i think it's capped at 2%. There may have been other changes but I don't remember beyond that.
     
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  12. sucker666

    sucker666 Well-Known Member

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  13. vetran peddleman

    vetran peddleman FOR ENTERTAINMENT USE ONLY

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    Sosorry for the drivers for a percentage of your last paycheck from this put extra pool or what?
     
  14. vetran peddleman

    vetran peddleman FOR ENTERTAINMENT USE ONLY

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    Wow!!Didn'trealizetheytookthatawayin2008'thx
     
  15. vetran peddleman

    vetran peddleman FOR ENTERTAINMENT USE ONLY

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    True,butIsupposethattheriskone'sgottotake.Why?causeour401istheonlyplaywehave(unlessuwanttotoplaythestockmarketonyourown).
     

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