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FedEx Freight | Pension Update

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WASHINGTON - Republicans expressed confidence Thursday that pension overhaul legislation, after months of negotiation, would make it to the president before Congress' August break.

"We're very very close and we should be able to wrap this up next week," said the chairman of the House Education and the Workforce Committee, Rep. Howard "Buck" McKeon, R-Calif

http://www.msnbc.msn.com/id/13941425/

WASHINGTON - Congressional negotiators said Wednesday they had agreed on legislation to restore health to the nation’s enfeebled employer-based pension system and ensure the retirement benefits of tens of millions of people.

http://www.msnbc.msn.com/id/13951665/

Rememba, Nobody told ya.
 
Pension ?
Just add more to my match on my 401K.
What do you guys think ?
 
I think you guys are dreaming a little too much. In these days, it's more likely that a company will reduce it's contribution then increase it as many have already.
The easiest way to reduce labor expenses is to take away something you don't see every week in your pocket.
 
When they roll out the pension I'll bet that it is reduced for sure.
 
I believe they said the 2.5% of our salary that they contribute reguardless of our contribution will be taken away from our 401k and will go toward our pension (i may have misunderstood but i think thats what it is)
 
Yep, take this away and give you that... What ever it takes to make more money for those sitting in the corporate office....
I may be wrong,,, but I bet those people who decide on our pay got more than 50 cents an hour with our Record Profits.....
 
So in other words they will take money from our right pocket and put it in our left.... Wow, I feel better already :BlahBlah:



PocketChange said:
I believe they said the 2.5% of our salary that they contribute reguardless of our contribution will be taken away from our 401k and will go toward our pension (i may have misunderstood but i think thats what it is)
Click to expand...
 
Smokestack said:
When they roll out the pension I'll bet that it is reduced for sure.
Click to expand...
Got A Message on The Brick Today Said Jan.1st for pension Start.
 
How can they take money from your 401k.?Isn't that yours? Or do you meanthat they will instead devoted that 2.5% to your pension in the future and not your 401K?
 
Our regional HR guy said we will keep everything we already get and the pension will be in addition. I hope what he says is true, but he is an extension from GO
 
No I think the company match on the 401K will be gone , almost sure of this.
Hope I'm wrong but don't think so.
 
Then we must be different!!!!

flstc2000 said:
I think you guys are dreaming a little too much. In these days, it's more likely that a company will reduce it's contribution then increase it as many have already.
The easiest way to reduce labor expenses is to take away something you don't see every week in your pocket.
Click to expand...
Since our buy out they have increased out match contributions and added a bonus program given a extra personal day it might not sound like much but they keep giving, they figure out a decent pension plan and roll it out i'll be happy. We will have see what it all intails!
 
Points System?

I heard points system based on tenure and age. The longer you have been here and the older you get more points
 
We were told that you get credit of all years with the company. But everyone starts and$0. If you have been with the company for 10 years you will be vested right away.........but you'll have no money in the account
 
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