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FedEx Freight | Info on FedEx awesome pension

The Point said:
I am over 15 years into it now. Currently my monthly draw would be a little over $100 is I retired today. If I were to make it to 65 then I could really bank under $600. I am a realist and don't see me making it past the 55 mark. Way too many years of company abuse already.
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I was under the impression that it hadn't been around 15 years yet.
 
The Point said:
I am over 15 years into it now. Currently my monthly draw would be a little over $100 is I retired today. If I were to make it to 65 then I could really bank under $600. I am a realist and don't see me making it past the 55 mark. Way too many years of company abuse already.
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The pension started in 2010. It's only 4 1/2 years old.
 
Guardrail said:
They still match 3.5% of your money (as long as you contribute 6%). How did you come to this incorrect assumption? Or did I miss something?
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I tried to explain to you before... There used to be the match PLUS discretionary contribution into the 401k, as well. If you had paid close attention in the meetings (way back when) where they explained the establishment of the pension, and reduction of 401k contribution, you would have known. Same money, different account. There is a tax benefit for them putting it in the pension, I'm fairly certain. If you recall, there was some delay in implementation, waiting for the final wording in the law.
 
Do any of you really thing that by voting yes that you miraculously start collecting this imaginary union pension after working for them for only a few years. Every driver complaining about the pension is close to retirement and is saying " I'm only getting $XX.00 a month " THEN SHAME ON YOU FOR NOT PLANNING. I sat down with my boss last week and reviewed his information on the pension and when he retires he will bring home over $2200 a month from the FedEx Pension ALONE...... THIS DID NOT INCLUDE his 401k OR Social Security and no....... Managers do not get more then us at the hourly level. The FedEx pension is stable and funded properly on top of a 401K. If you are 30yrs or younger you are going to have a solid retirement plan between your 401K, Pension, SS and any other investments you might have. Why does everyone look for a damn handout in regard to a pension and benefits, grow the F up people, we are all adults, provide and plan for yourself. Save for retirement, live within your means and you have no worries. I am so sick of all the BS on here that is so far fetched its sickening, its embarrassing that grown men (myself including) even entertain this drama on any social media site. We ALL work for a solid company, one that is not going to close its doors, are there things we would like to see change, yes 100% but no damn union is going to help do that. So what, you don't like a sup or OM or SCM, work past the drama like men, don't make a choice out of spite you WILL regret it. On top of this people say the company make so much money why don't we get any of it and UPS this and that when is the last time UPS Freight made ANY damn money people..! They are losing money hand over fist, its so bad they don't even announce their losses. When is the last time you saw a new UPS Freight tractor, trailer, center..????? We all driver new god damn equipment every day, we are growing faster then we can handle it and everyone wants to complain about job security.....WE ARE GROWING there is your job security..!!! Its simple, show up to work, drive safe and you have a job until you retire. Stop looking for FedEx to be your handout, we work for them, we went to them for a job, we have it better than any other LTL company for the total overall package, wake the F up guys. Guys in my center know what they have and what they want and while they don't agree with everything they know a Union is not going to solve the problem. We as drivers, will stick together and work with our bosses to fix what we need and they have been MORE than willing to help even long before any union talks. NEW is up in only a week or so then SNW and I know what we want as drivers, don't bring it here, we have a voice and it was heard and we didn't pay a damn red cent to a Union to get it................. Sorry for the rant but I hope my fellow drivers understand what they are and have done already and what they are doing to the company and more importantly each other. I know the hate responses are on the way so lets get them started..!
 
I don't hate but in response to your question about UPSF equipment I saw 2 brand new trucks today, Volvos by the way, and the trailers while not brand new looked to be in good condition, I fact better condition than some of our trailers.
 
SwampRatt said:
I tried to explain to you before... There used to be the match PLUS discretionary contribution into the 401k, as well. If you had paid close attention in the meetings (way back when) where they explained the establishment of the pension, and reduction of 401k contribution, you would have known. Same money, different account. There is a tax benefit for them putting it in the pension, I'm fairly certain. If you recall, there was some delay in implementation, waiting for the final wording in the law.
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Funny, because when I started in June 2008, there was not any plus. I received 100% match of the first 1% and 50% match of the next 5%. There was no other money deposited in my 401K, except my contribution and their match. Maybe it was a freight thing. National didn't have the extra.

Guardrail
 
I just heard through the grapevine that a 10 year guy will be collecting a whopping $110/ month retirement from Fedex Freight.
Maybe he can find a cheap campground to live in a tent when he retires? Sell his house for food?
Just a rumor.
 
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