Pension payout

Discussion in 'XPO Logistics' started by freightman68, Dec 5, 2017.

  1. freightman68

    freightman68 Rightwing_extremist

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    Has anyone received their pension payout yet? They are supposed to be paid in December. I have not received mine and I am always a little anxious when I know a check is coming in the mail until it’s in my hand.
     
  2. ssadab

    ssadab Active Member

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    E-mail said end of December
     
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  3. boomer55

    boomer55 Member

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    I never knew they were doing a payout
     
  4. sucker666

    sucker666 Well-Known Member

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  5. freightman68

    freightman68 Rightwing_extremist

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    I think they are only doing it for ex employees.
     
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  6. RoadHouse

    RoadHouse Member

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    Information was sent directly to the homes of former employees. We discussed in a pre-shift meeting but I don't remember anything being posted about it. The only reason I can see behind this offering is to get the financial liability off the books which is similar to why they offered salaried employees to cash in PTO time (earned prior to 2017) for 50 cents on the dollar. Depending on how you're looking for your retirement and the amount that you have in your pension, it could be a good offering but certainly reduces the financial liability for the company (makes them look better to Wall St).
     
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  7. sucker666

    sucker666 Well-Known Member

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    Your spot on this time Sir
     
  8. RoadHouse

    RoadHouse Member

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    Ha...don't get called sir very often!
    Anything I post is either direct information that I have first hand knowledge of, information that I have confirmed, or simply my opinion.
    If it's just my opinion, I'll clarify so nobody thinks that I'm just pushing rumors.
    I am certainly not an expert so I won't try to play one on the internet!
     
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  9. freightman68

    freightman68 Rightwing_extremist

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    Update: my check came today
     
  10. vppforme

    vppforme Member

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    Would it be too forward to ask how much the payout was for how many years credit in the pension plan?
     
  11. trucknfool

    trucknfool Well-Known Member

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    I can't speak for anyone else, I had 20 years of witch I was credited with 13 because the pension stopped in 06 and I left in 13. The offer I didn't take was less than half of what I thought that it was worth.
     
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  12. freightman68

    freightman68 Rightwing_extremist

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    I started in 2003 and my choice was something like 40 dollars a month when I was 65 or 11332.83 now...I might be a little off on the 40 dollars a month I can’t remember right this minute but it wasn’t very much.
     
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  13. sucker666

    sucker666 Well-Known Member

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    Can you role that directly into another retirement account?
    Never mind just read your above post and see you took the check . Must have hit you hard in taxes unless your at retirement age. Enjoy!
     
  14. sucker666

    sucker666 Well-Known Member

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    Former driver at our barn was offered 35k. His finiacial advisor / tax guy advised him not too take the buyout.
     
  15. freightman68

    freightman68 Rightwing_extremist

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    Yes you can roll it right in
     
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  16. sucker666

    sucker666 Well-Known Member

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    Good I thought so.
     
  17. sucker666

    sucker666 Well-Known Member

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    Buyouts are usually not equal to the long term payouts. It really depends where your at in your career. Most people take the low hanging fruit
     
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  18. snaildriver

    snaildriver Retired

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    Long term payouts are good if you live long. :wink:
     
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  19. highspeeds

    highspeeds ENTERTAINMENT USE ONLY

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    That's the trick, isn't it. How long will you be living ?
     

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