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FedEx Freight | Info on FedEx awesome pension

Crazy Trucker said:
So how do you like pbj and bologna bout all your going to be eating when u retire. Im not trying to be mean and its not funny but you might want to talk to a financial adviser about your grand plan.
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I am going to eat cat food, then use the leftover coin to fund a drug habit.
 
slavenomore said:
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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Well, I'm part gypsy so the campground thing will probably be a good thing.I can always hunt for food, squirrels, birds, maybe a cat for thanksgiving.
 
Guardrail said:
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
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That explains our disagreement, right there... I was wondering. That makes sense.
 
Thom-8-Toes said:
That's right...FXF could do what conway did and STOP contributing to the 401 k all together. .
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Yep, they COULD. They could also announce a nationwide top pay scale of $18.00 an hour, and many would support that (for the good of the company). Luckily MOST would not! There is a market that drives compensation rates, for qualified drivers. We are currently at the low/mid range point on that scale (in many areas of the country). Compensation includes the whole package.
 
Black dog Mafia said:
Correct me if I'm wrong. But the FXF pension is a benefit that cost us nothing. They don't have to give us a penny. Buy They have done this for us. I plan on retiring on my 401K not this pension.
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If Fedex, your employer doesn't give it or enough tocover cost of living plus extra pay for investing, who will?
Obama?
Me?
It won't be Fedex
 
Driver12 said:
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..!
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And for you

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Driver12 said:
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..!
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Not going to spend much time, as I doubt you'll see the truth. But... 1st off: Handout? Seriously? We contribute greatly to the success. 2: UPSF has and is improving their fleet. & our fleet has declined. We don't ALL drive new equip. 3: Fact, at last report UPSF was growing FASTER that FXFE (awaiting next update) 4: For MOST on here, it's NOT about the local leadership. It comes from significantly higher in the chain. You have NO VOICE at that level. Local leadership has their hands tied, in that respect. 5: There is something called "fair market value" for your services. That would include the total compensation package. Have you compared market value with you current package? You should do so, and see who, exactly, should "wake the F up". Your words, not mine.

Hope I didn't miss anything significant. If you dig around, you'll find facts that will amaze and disappoint you.

If you'd like specific answers, along with proof, post specific questions. I'll do my best to help you find accurate answers.
 
Guardrail said:
No it didn't. It started in 2010, 2 years after I started at FedEx in June 2008. When I left in September 2011, I had a little over a year in it and cashed it out.

Guardrail
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Actually from your earlier post I am assuming you came on board with Watkins/national. Our pension or lack there of started before Watkins was purchased here at freight.
 
droppingaduece said:
Only thing I can think of is you weren't fully vested. Had to be employed 5 years to get fully vested.
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It was 3 years to be vested. I was there 3 years and 3 months. The money is still deposited or credited to your pension, you just can't withdraw it until vested.

Guardrail
 
Guardrail said:
Again, why was there no money in my pension until June 2010?

Maybe they didn't bring National in until June 2010 because that's when I started receiving benefits.

Guardrail
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I think that's it, National joined the pension one year later then Freight. So it started based on your 2009 earnings and the money was put in the account in 2010.

3 years to fully vest but your prior service with National / Watkins / Viking / AF counts towards this and also to your length of service calculation.
 
Ok then the 15 year $100 thing from an earlier post is irrelevant. Back to the original topic, I have not done the math on what a 2.5% contribution to your 401K would be and I have no access to the FedEx pension formula so I can't say which would be better. But I will say it seems like people are trying to draw a comparison to Fedex's pension being underfunded and a union pension being underfunded, the two are not the same. Fedex's plan is wholly funded by them all they would have to do is move money from one account to another to cover the short fall. A union pension can not they have to get the money from somewhere else. Keep in mind I'm not saying Fedex's pension is better than a union plan or even a good deal.
 
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