FedEx Freight | Pension for Fed Ex Frt.
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Slackdragon
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To answer your next post ...NO I don't agree...but Fedex can still put more in my 401k...TRUCK SAFE
FILTH the Klown
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401 plan is just fine with me. Taking away my 2.5% to put in a pension plan just to say we have a pension, is going to cost me thousands of dollars,due to the extreme low interest rate. I'm sure they want our money to be safe, but nothing ventured, nothing gained,
Hell, I gotta move out of NY City. My $600k house is a 3 bedroom, 7 rooms total, with a rentable 2 1/2 room basement apartment and garage, on a 100x20 ft lot. Hell, they just put up a 9 unit condo across the street from me with a 6 room duplex going for $650k. Damn, I'd be living large anywhere but here.
And to stay on the topic, I keep my fingers crossed that my pension will be there when I retire, but I add 20% of my gross every week to my 401k plan, and had 2 funds that returned 23% and 27% respectively for 2006.
401 is great pension is great the problem with the company matching is for guys like me just starting out with 2 kids and a new house new car after mortgage car payment daycare and every other bill i have its hard to contribute to the 401 i know as i gain equity and pay some of my debts off and kids go to school rather than daycare things will get easier and i could contribute to 401 atleast with the pension i don't have to contribute and still getting something put away for later in life.basicly long run 401 is nice because you can control what you put away but if you can't afford to put away matching nothing is nothingi'm not sure if i stated my points right therflu is starting to kick in and its a little hard to focus but i think i got it out right if not i'm sure i'll be bashed for it
There is a point where if you do the math, you will find that the percentage (roughly 2%) that you contribute to the 401k will equally offset the amount of taxes that you would be paying weekly, and still give you close to the same amount of take home money each week, thus providing for retirement and not taking anything off the table presently.
(For example....rounded off for demonstration. You gross $1000 and pay 25% equals $250 in taxes leaving $750 take home. Now take 2% off the $1000, get taxed on the $980 equals $245 in taxes leaving $735 take home....and $20 each week in the 401. In reality you come out ahead $5 each week plus the company match.)
Having your company match a certain percentage is like found money right off the top and should also be taken into consideration as it will ultimately add to your personal bottom line. Add on top of that the increase in refunds or decrease in amount owed at tax time and you realize additional savings. Ideally you should try to contribute as much as you can possibly afford as it would yield greater returns.
I wish my company made some sort of matching contribution but they don't so I have to invest wisely. As mentioned in my other post, I don't think I did too shabby last year.
You Guys Can Want The 401 K But It Is Whats Going To Be Cheaper For Fedex And The Way It Looks Them Coming Up With A Pension Plan Is Going To Be Cheaper. The Reason It Took Them So Long To Come Up With It Is They Had To See How They Could Make It Tax Deductible.
10 Speed, When you get to the Hub tonight.. meet me in the Breakroom so I can teach you something...
What you just said makes about as much sense as pickles on a Peanut Butter and Jelly Sandwich!
I think too many people are confusing this pension with the pensions of yesteryear that our fathers recieved at retirement. Hate to say it but those days are gone.
Guy who explained things things to us stressed the fact this pension was just to supplement our other retirement plans.
Pension + 401-k + Social Security + any IRA's should keep roof over our heads after retirement. Might not be able to heat it or buy gas to get to grocery store but we'll have a roof.
Myself I don't like the 401-K. Not that it doesn't work. I along with a lot of others don't know the difference between a mutual fund or a stock dividend. I have no business being responsible for my own retirement. Yeah I've had financial guys go over it with me and tell me what to do. But still. For all I know he's buying lottery tickets with my money.........
Guy who explained things things to us stressed the fact this pension was just to supplement our other retirement plans.
Pension + 401-k + Social Security + any IRA's should keep roof over our heads after retirement. Might not be able to heat it or buy gas to get to grocery store but we'll have a roof.
Myself I don't like the 401-K. Not that it doesn't work. I along with a lot of others don't know the difference between a mutual fund or a stock dividend. I have no business being responsible for my own retirement. Yeah I've had financial guys go over it with me and tell me what to do. But still. For all I know he's buying lottery tickets with my money.........
Damn, your making me hungry!10 Speed, When you get to the Hub tonight.. meet me in the Breakroom so I can teach you something...
What you just said makes about as much sense as pickles on a Peanut Butter and Jelly Sandwich!
:smilie_132: FM
a little background, I have been with Con-Way 17 + years, contributing 15% to my 401 all that time, very conservatively. In September I spent half of a day on line with our plan administrator site and their tools. I moved, adjusted and modified my plan. The recommendation was to diversify and build a plan of mixed investments that mirrors the S&P 500. I started 2006 with $200,000 saved and the first three quarters of the year each produced on average $2000 in interest (gains). After all my time in self-education of the plan and following their suggestions, my Fourth quarter of 2006 produced over $10,000 in gains. I am very happy with my new elections.
lesson learned... all the tools are available to help you with your retirement. Find the time to learn for yourself
see ya down the road
Blackheart16
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Biggest problem with the pension is that it is a lump sum deposit, once a year. If it was a monthly or quarterly we would benefit more from the compounding of the interest. The one benefit is that it goes where ever the driver goes.
Welcome to the boards Blackheart16. It's good to have you here.
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Welcome ''Blackheart16''.
hey merdock would you possibly consider a long term low intrest loan :deal: to a fellow driver whos down on his luck ? :TR10driving03:
tundra2000
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Will National get a pension
I was just wonering if you guys over there have heard anything about National getting a pension. We are (convienently) under the fedex freight east plan. Oh, and it is official that we now will haul all of lowe's ltl freight.
I was just wonering if you guys over there have heard anything about National getting a pension. We are (convienently) under the fedex freight east plan. Oh, and it is official that we now will haul all of lowe's ltl freight.
I am sure you guys will get it soon.. don't see why you would not..
FedEx is primary carrier for all of Lowes.. and that is all Opco's.. we've had this contract for over 5 years.. and as long as the folk's in N. Wilkesboro are happy.. we will keep it!
I thought Estes had the big contract. I know everytime I have stop at local Lowes, there's an Estes truck there with a load of hand freight. Hope we don't get that stuff.
Stacking ctns of siding on a rack and waiting for clerk to move it and bring in another rack makes for a long day.
Stacking ctns of siding on a rack and waiting for clerk to move it and bring in another rack makes for a long day.
Everything we get is on wood.. At least everything that I see coming out of the South East. Had over 40,000 lbs come through our barn tonight out of ATL.. going to Lowes (fertilizer)