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FedEx Freight | Pension And 401

No changes (option to change) until 2022.

Supposedly, they pushed it back due to CV, but not sure what that has to do with anything.,,,, aside from saving Fx $, and fvcking the workers over by making them stay in the joke of a pension that won't amount to Jack squat after 30yrs of employment.
 
Trust me , what ever they offer they will change it when it starts paying you. 401k ... they can change the match anytime they want. After the pension is locked up, the 401 match will start dropping again. The company isn’t here to make you money.
 
Gator said:
Trust me , what ever they offer they will change it when it starts paying you. 401k ... they can change the match anytime they want. After the pension is locked up, the 401 match will start dropping again. The company isn’t here to make you money.
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^^^^^^^^what he said^^^^^^^^^^
 
I'm a bit torn. Im a finance nerd and I've run all the sims for my circumstances and retirement date and the 401k with the 8% match is more beneficial. However I know the company can modify or even suspend its match at any time. They can do the same with the pension but that's more of a PR and employee outcry mess. Reducing or eliminating matches on 401ks indefinitely/temporarily has been standard for 20 years for corps during rough times.

For those that started younger and will hit the higher pension contributions earlier will have different results or those that choose to work in their later years.

I was pretty gung ho on the 401k last year so I'm a bit happy o have some extra time to decide.

If FXF isnt a long term play for you, the 401k with the 8% match is a no brainer.
 
Crazy Trucker said:
This makes total sense blame covid, even though are stock and profit are higher than have ever been. I guess they think we are all idiots and don't pay attention to what's going on.
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gonna crash when the truth comes out, cry wolf...take stimulis money(unjustified), tank the stock then do a major stock buy back. fast foward to stock at 3 times its value now. record profits, :shit:ty raise and benefits. just another day at corp fedex
 
Even at the max pension contribution, age+yrs of service @ 75, you're not going to reap the 6% contribution for very long at all.

Assuming you hired on, on your 21st bday,,
You'd be, what? Age 46 before seeing the 6%?
This may make sense, but for guys that showed up after age 32,or so, you'd be better off with the new 8%.

The 8% match is a no brainer, unless you're just a year from retirement.


Now,,,, if Fx would actually IMPLEMENT THE MF'ER!
 
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Then figure what’s better for you.
8% going into an account that earns 10% or
3.5% into the 10% account and 6% into an account earning <2%...
 
you cant retire off of that so called pension. For as much money this company makes. You should be able to retire comfortably in 25-30 years. Record profits and bonuses during a pandemic and they still cant offer a better pension. They want to get away from the pension because under federal law, they have to pay it to you. 401k, they can take it away and run away with it.
 
Packerfan said:
you cant retire off of that so called pension. For as much money this company makes. You should be able to retire comfortably in 25-30 years. Record profits and bonuses during a pandemic and they still cant offer a better pension. They want to get away from the pension because under federal law, they have to pay it to you. 401k, they can take it away and run away with it.
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FedEx is the only non union trucking company that I know of that offers any kind of pension, even if it's not a lot that still says something. I'd rather stick to a 401k then a failing fund like Central States.
 
peachykeen said:
FedEx is the only non union trucking company that I know of that offers any kind of pension, even if it's not a lot that still says something. I'd rather stick to a 401k then a failing fund

I would rather have something in a government binding contract thats guaranteed.
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Packerfan said:
you cant retire off of that so called pension. For as much money this company makes. You should be able to retire comfortably in 25-30 years. Record profits and bonuses during a pandemic and they still cant offer a better pension. They want to get away from the pension because under federal law, they have to pay it to you. 401k, they can take it away and run away with it.
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Exactly how is it that they can take away money in your 401K when it's vested? Once the money is in your account, it's yours. They have no access to it.
 
silent trucker said:
Exactly how is it that they can take away money in your 401K when it's vested? Once the money is in your account, it's yours. They have no access to it.
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Teaser rate of 8% was pushed back (taken away) this year because Fedex thought we were going to have a bad year. But they kept the new hires from having access to the pension. True everything vested is the employees money. But everything else is on the table health benefits, 401k match and future company pension contributions we never know from year to year.
 
going coastal said:
Teaser rate of 8% was pushed back (taken away) this year because Fedex thought we were going to have a bad year. But they kept the new hires from having access to the pension. True everything vested is the employees money. But everything else is on the table health benefits, 401k match and future company pension contributions we never know from year to year.
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Just living psp, being treated like a zero i mean hero.
 
Packerfan said:
Wrong. Do you realize how much stock Vanguard owns in FedEx?

Pensions are guaranteed under federal law. 401k is not.
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The stock vanguard holds isn't owned by Vanguard. It's owned by those who have shares in Vanguard mutual funds. It never ceases to amaze me that people who clearly have no understanding of how the stock market actually works cling to the idea of a pension plan. You do realize pensions aren't guaranteed at 100% payout? I'll look up the numbers, as I recall it was less than 50%...
 
No F-bdy Bs said:
No changes (option to change) until 2022.

Supposedly, they pushed it back due to CV, but not sure what that has to do with anything.,,,, aside from saving Fx $, and fvcking the workers over by making them stay in the joke of a pension that won't amount to Jack squat after 30yrs of employment.
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Paul Ziobro. FedEx Corp. FDX -1.36% is closing its pension plan to new U.S. hires starting next year, joining the ranks of large U.S. companies phasing out guaranteed retirement benefits. The shipping giant instead will launch a new 401(k) plan at the start of 2021 with a higher company match
 
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