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FedEx Freight | Pension And 401

Triplex said:
Not entirely 100% correct. If any contributions to an IRA include after tax money you have to calculate your basis in those accounts via a Form 8606. Otherwise you'll end up being taxed twice on the same money.
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If you guys would invest your money in a WongWay IRA, you would be guaranteed at least a 15% loss on the money you invest yearly. Tax problem solved!!!
 
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silent trucker said:
There are a lot of old timers that have been in the 401K since it opened here on the west coast with substantial nest eggs....
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When I was young, the 401 had not been invented, some guy had just come out with a thing called a pencil.
 
BD, what some folks do, is contribute after tax to the fedex 401k. Then to withdraw, they have to transfer that money and it's growth to a roth and then withdraw. Vanguard tracks those contributions and the growth on them separately for that purpose.
 
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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Too bad Fed Ex does not get billions in corporate welfare from taxpayers to boost pensions..
Plus $700 million would be nice...
 
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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They can't take away money that's in your 401k. You're fully vested. The money is yours. They can stop matching funds, they can't withdraw any. So why post something that's blatantly inaccurate?
 
Puff Driver said:
Too bad Fed Ex does not get billions in corporate welfare from taxpayers to boost pensions..
Plus $700 million would be nice...
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They did get billions in corporate welfare from Trump. They want to get away from the Pension for several reasons, one of the biggest of which is the difficulty of investing pension funds. I won't bother to take the time to type out that issue. The 401 is cheaper and easier for them because it's on the individual employee to invest/risk that money.
 
screweddaily said:
You guys realize there's a roth 401k option?
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Choices.
The Roth has the advantage of growing tax free and tax free distributions.
The traditional 401(k) has tax free contributions.
All depends on your personal situation. If your highest tax bracket is 22 or 24%, taking that oncome off the top by putting it in a traditional IRA could make sense.
An even better choice is the Health Savings Account. The problem there is that yearly contributions are limited to $4600.00 and you have to have high deductible insurance to qualify.
 
It’s very simple, i don’t trust FedEx . They can decide not to contribute to your 401 like they have in the past but they can’t do anything on the pension side as far as cuts go. I’ll stay with the pension and stay diversified
 
SIKOFITALL said:
It’s very simple, i don’t trust FedEx . They can decide not to contribute to your 401 like they have in the past but they can’t do anything on the pension side as far as cuts go. I’ll stay with the pension and stay diversified
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I don't trust any company and they shouldn't trust me. I'll drop any company like a sack of potatoes on the spot for a better offer.

What's better is subjective. It can be the schedule, the commute time, health benefits or anything else.

Can FedEx change the match at any time? Yes. Can FedEx change the pension contribution at any time? Yes. All you can do is make the best decision with the information you have right now.
 
SIKOFITALL said:
It’s very simple, i don’t trust FedEx . They can decide not to contribute to your 401 like they have in the past but they can’t do anything on the pension side as far as cuts go. I’ll stay with the pension and stay diversified
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What makes you think they can't do that to the pension? Conway got rid of theirs years ago. Its common place with companies trying to minimize their long term liabilities.
 
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