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FedEx Freight | Let’s define 401k retirement funds

Thats sounds great with the exception that FedEx could say no during your negotiations. There are no guarantee that we will be better off.
Joe Nuno said:
First of all, you on your own, have to contribute money from your hard earned wages, meaning you have to put aside money from your paycheck, so that you could retire.
Sure FedEx will match 50 cent to the dollar that you put in and that’s only up to 6% of your earnings, but the matching is only going to cover the taxes for your benefit at the end of your time of employment at age 65, meaning no less of your exact age.
Meaning you paid for your retirement, because the matching from FedEx is tax deductible for FedEx Corporation and they don’t loose anything!
Let me give you my old example of my contribution at FedEx, per week, they deduct $ 78.80 per weeks X 4 weeks = $314.40 X 12 months = $3772.80 per year, plus FedEx matches $1886.40 which equals to a total of $5659.20 per year.
Now under a Teamsters contract, we could negotiate a $5.00 per hr, meaning for every hour you work you’ll get $5.00 per hour, here is an example: you work 40hrs =$200.00 per week now times it by 4 weeks =$800 per month and times it 12 months =$9600.00 going into the Western conference pension funds.
Not Vanguard or what ever firm they're using now, who is totally control by our one and only FedEx Corporation!
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Hate to say this but we got a bunch of dumbies here. Most union companies offer a pension and a 401k, If either one falls thru its better to have two then one. stop being so hard headed.

Hopefully in the future you continue to invest in your 401k
And get a pension at no cost to you
and get social security

= atleast 6,000 month on retirement

with medical costs skyrocketing your going to need all the money you can get..

http://www.teamsters492.org/docs/UPS vs. FedEx.pdf
 
Lets define 401K retirement fund
I think when you are good at something like shouting the virtues of the Teamsters Union you should stick with that. Trying to be a financial adviser on the issue of the 401K just makes you look silly. The 401k is one of the best benefits for the working employee. The money is taken out of your check pre taxed. That puts you into a lower tax category and the company matches your contribution up to 3% You don't pay taxes on that money until you start drawing it out. The money is put into a financial fund like Vanguard which charges a small fee for managing your money. If you think you can do a better job yourself, what are you doing driving a truck? Look how well all those day traders are doing. For sure the Teamsters pension plan is looking for new blood. Its losing 2 Billion dollars a year. The Western States fund is in good shape, but its the only one. Its in good shape because of all the other non transportation companies that are Teamsters. The Pension Protection Act expires at the end of this year. If its not extended look for the Teamsters to start cutting Pension Benefits next year like they have already threaten to do. I retired with a 6 figure 401k which is part of my retirement package along with my pension and SS. Get into the 401K plan and stay in it. You'll be happy you did when you retire. I know RC monitors my posts, I hope I didn't reffle his feathers this time. TP
 
Even a blind Squirrel finds a nut every now and then. :Poke: you are pretty much right, except that no one is going to get into a multi-company pension plan.
 
Twice Pipes said:
Lets define 401K retirement fund
I think when you are good at something like shouting the virtues of the Teamsters Union you should stick with that. Trying to be a financial adviser on the issue of the 401K just makes you look silly. The 401k is one of the best benefits for the working employee. The money is taken out of your check pre taxed. That puts you into a lower tax category and the company matches your contribution up to 3% You don't pay taxes on that money until you start drawing it out. The money is put into a financial fund like Vanguard which charges a small fee for managing your money. If you think you can do a better job yourself, what are you doing driving a truck? Look how well all those day traders are doing. For sure the Teamsters pension plan is looking for new blood. Its losing 2 Billion dollars a year. The Western States fund is in good shape, but its the only one. Its in good shape because of all the other non transportation companies that are Teamsters. The Pension Protection Act expires at the end of this year. If its not extended look for the Teamsters to start cutting Pension Benefits next year like they have already threaten to do. I retired with a 6 figure 401k which is part of my retirement package along with my pension and SS. Get into the 401K plan and stay in it. You'll be happy you did when you retire. I know RC monitors my posts, I hope I didn't reffle his feathers this time. TP
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Please list the funds that are losing 2 billion a year.
 
Twice Pipes said:
Teamsters pension plan stuck in crisis | BenefitsPro
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Why are you so hell bent on scaring these folks? The Porto potty pension offered is 1/6 the benefit of the previous FX plan...pre Viking, AF, Watkins. All operating companies have suffered the effects, not just us. Our pension will be negotiated in a similar fashion to UPSF, no CSPF. Get over it.
 
jake brake said:
Not all people have the ability to self fund a 401k or a IRA. You are a amazing exception.
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Really, your a full time FXF employee, and you can't put a few pretax dollars away each week, plus the company 3% match. If this is true, you probably will be looking for public assistance when you retire.
 
renegade169 said:
Why are you so hell bent on scaring these folks? The Porto potty pension offered is 1/6 the benefit of the previous FX plan...pre Viking, AF, Watkins. All operating companies have suffered the effects, not just us. Our pension will be negotiated in a similar fashion to UPSF, no CSPF. Get over it.
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I'm sorry if I scared anyone with the facts about our pension possibilities, I was wrong. I didn't realize our new pension will be negotiated just like UPSF.
 
renegade169 said:
Why are you so hell bent on scaring these folks? The Porto potty pension offered is 1/6 the benefit of the previous FX plan...pre Viking, AF, Watkins. All operating companies have suffered the effects, not just us. Our pension will be negotiated in a similar fashion to UPSF, no CSPF. Get over it.
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are you saying we are going to get the same as upsf in writing
 
I just wish I would have went to work at Ups slinging packages when I was 22 years old, I could have been retired early in life, I got a couple guys I went to school with and they will be done working with great bennies at a early age. Must be nice.
 
jake brake said:
No one got scared. If you went to a meeting you would know what they want to do for us.
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I was going to meeting when yu were in short pants. I'm guessing not much is new and improved, after all driving a truck isn't brain surgery.

No I don't want to go back to work I like my new position, sit home and get checks in the mail.
 
Twice Pipes said:
I was going to meeting when yu were in short pants. I'm guessing not much is new and improved, after all driving a truck isn't brain surgery.

No I don't want to go back to work I like my new position, sit home and get checks in the mail.
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Sit at home retired and spend all day on trucking boards. What a exciting retired life you have.
 
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