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FedEx Freight | NLRB Ruling

Richard Cranium said:
I believe Ratt went to our pension website and posted what our payout would be. Anything but substantial.
I have a western conference pension coming from when I worked under contract from 1980 to 1990, it will pay $200 a month more than what our website says a thirty year driver will receive. I had a question about it and called the pension office, now bear in mind it will pay more than our pension would pay... They described it as a small pension. Imagine that, my small pension based on only ten years of service, from 20 plus years ago when contribution rates were much, much lower will pay sustantially more than our pension will pay for 30 years of servitude.
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But you must also remember our pension plan has only been in place for 6 years. If you take someone that was hired 5 years ago that puts in another 25 for a total of 30 years, plus their 401K, their retirement would receive on average $4,000-$4,500 a month...and that's on today's figures.
Yes, it sucks for those of us that have put in 20-30 years already but it is what it is. If the union were to secure a contract, you would not still be in basically the same boat, would you not have to also put in another 14 years (providing you get credit for the 6 you've accrued already with FedEx) 20 years (if they don't) plus the 10 you've already accrued of a total of 30 years to get that kind of money....provided the govt hasn't cut everybody's pension by then?
 
222lifer said:
A lot of the confusion comes from the past, present , and future for the UPS Freight guys.

Ok then how come all I hear from the pro union drivers is we want what UPSF has enlighten me please.

Still trying to drum up a few rebuttals in the threads you left hanging?
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The present formula would be what you all would be interested in. Didn't you already have provisions for the employees from other companies when they all came under one roof?
 
Redracer3136 said:
But you must also remember our pension plan has only been in place for 6 years. If you take someone that was hired 5 years ago that puts in another 25 for a total of 30 years, plus their 401K, their retirement would receive on average $4,000-$4,500 a month...and that's on today's figures.
Yes, it sucks for those of us that have put in 20-30 years already but it is what it is. If the union were to secure a contract, you would not still be in basically the same boat, would you not have to also put in another 14 years (providing you get credit for the 6 you've accrued already with FedEx) 20 years (if they don't) plus the 10 you've already accrued of a total of 30 years to get that kind of money....provided the govt hasn't cut everybody's pension by then?
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So much uncertainty. Scratch the 401K out of the equation also. You can't bank on probable.
 
222lifer said:
The present formula would be what you all would be interested in. Didn't you already have provisions for the employees from other companies when they all came under one roof?
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The pension was started for FXNL and FXFE so when it became FXF nothing changed as far as the pension goes.
 
222lifer said:
So much uncertainty. Scratch the 401K out of the equation also. You can't bank on probable.
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Well with the spending bill that was passed last week we can probably scratch pension also. The way I see it they will start with multieployer then they will go for the individual after. This stupid government does not want anyone to have anything that everyone else has.
 
citydog said:
The pension was started for FXNL and FXFE so when it became FXF nothing changed as far as the pension goes.
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So they have a formula for the guys at UPSF that came from Motor Cargo and Overnite. This is the part that I don't understand. The guys that came on after all of that is straight forward. I think it figures $105 a month x 12 months =1260 x 1.725 x years of service divided by 12. Try that say for 30 years and see what you come up with?
 
citydog said:
Well with the spending bill that was passed last week we can probably scratch pension also. The way I see it they will start with multieployer then they will go for the individual after. This stupid government does not want anyone to have anything that everyone else has.
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There is time for many of these funds to rebound so it is hard to say. Those that are in the black do not fall into that equation.
 
222lifer said:
So they have a formula for the guys at UPSF that came from Motor Cargo and Overnite. This is the part that I don't understand. The guys that came on after all of that is straight forward. I think it figures $105 a month x 12 months =1260 x 1.725 x years of service divided by 12. Try that say for 30 years and see what you come up with?
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You take the highest five consecutive years of earnings in the last 10 year period and add them together and divide by 5. That is your final average compensation number.

Multiply that (FAC#) say$ 60,000 x 1.725= 103500 x years of service (say) 21=2173500 Divide that by 12= $1811 a month in benefits paid out at retirement.

This is off their forum
 
citydog said:
You take the highest five consecutive years of earnings in the last 10 year period and add them together and divide by 5. That is your final average compensation number.

Multiply that (FAC#) say$ 60,000 x 1.725= 103500 x years of service (say) 21=2173500 Divide that by 12= $1811 a month in benefits paid out at retirement.

This is off their forum
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Something is way off there.
 
222lifer said:
So much uncertainty. Scratch the 401K out of the equation also. You can't bank on probable.
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Why scratch the 401K? I've made a substantial amount of money off of my 401K already....although I currently have 99% in high risk! I understand I can lose as much as I make but I can also say I'm doing quite well...my 401K will pay more than a pension ever could, plus, where else can you get basically 50% interest on your investment?
If I retired at 65, lived till I was 95, and drew $3000 a month from a pension for those 30 years of retirement, my payout would only be $1,080,000. My 401K is currently projected to triple that by the time I hit retirement age!!! I understand those numbers could vary depending on the market but those projected numbers are considered an average, could be a little less, could be a little more!
 
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