Pension

Discussion in 'Fedex Freight' started by sucker666, Mar 27, 2017.

  1. sucker666

    sucker666 Well-Known Member

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    Can anyone tell me how your company paid pension works and when it was put in place?
     
  2. Richard Cranium

    Richard Cranium Well-Known Member

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    The current pension is a PPA portable pension account. It has been in place approximately eight years. The contribution level is dependent upon the combined total of age and years of service. I'm not certain but I think the entry level is three percent of gross wages. The upper limit is six percent when age and years of service equal 70.
     
  3. FedexLube

    FedexLube Well-Known Member

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    Yea, I wouldn't concern myself with it too much, it's just gonna be enough for gas and groceries anyway
     
    SMOKESTACK likes this.
  4. Mework

    Mework New Member

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    Shoot that's like $1200 a month...
     
  5. joes bar and grill

    joes bar and grill Well-Known Member

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    Beer and cigarettes don't count.
     
  6. SwampRatt

    SwampRatt Well-Known Member

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    Portable Pension Account Compensation Credits

    Age + years of credited service for benefit accrual (as of May 31 of prior plan year)

    Compensation credit (based on prior
    calendar-year eligible earnings)


    Less than 55=3%

    55 – 64=4%

    65 – 74=5%

    75 or over=6%
     
  7. DOTFXF

    DOTFXF Active Member

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    Didn't those that were at Viking with pension contributions carry over to the FEDEX plan? My contribution years at FEDEX are more than I have with the company unless I add the time with Spartan Express (Viking).
     
  8. SwampRatt

    SwampRatt Well-Known Member

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    Can't speak to the Viking plan, other than it was said to be superior.

    Our resident retired Viking guy will be along shortly, I suspect.
     
    Big Dave likes this.
  9. Big Dave

    Big Dave What?! A low bridge and boardwalk at same time?!!

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    My old Viking plan is seperate from the PPA. It was capped out when we became Fedex Freight. Or when the PPA started??? I better let the retired guy answer...
     
  10. Richard Cranium

    Richard Cranium Well-Known Member

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    They switched just before Mike M left.
     
  11. SwampRatt

    SwampRatt Well-Known Member

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    Where is Twice Pipes, when you need him?:scratchhead:
     
  12. Richard Cranium

    Richard Cranium Well-Known Member

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    Who needs TP?
    PPA started in 2008. Watkins and AF years of service are counted for contribution rate. But of course I will defer to the all knowing ST who will surely pronounce that I hate what I'm talking about.
     
  13. FedexLube

    FedexLube Well-Known Member

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    Hell, I need TP otherwise I gotta resort to using old FedEx issue socks
     
  14. Canadian Flyer

    Canadian Flyer They Call Me CF, Eh

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    Black socks, brown socks. They both stink!
     
    FedexLube likes this.
  15. silent trucker

    silent trucker Well-Known Member

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    If you hate talking so much, why do you never shut up?
     
  16. Richard Cranium

    Richard Cranium Well-Known Member

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    Because RC and I know it bothers you.
     
  17. silent trucker

    silent trucker Well-Known Member

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    Still suffering from MPD? Perhaps Father Fred could perform and exorcism and ease your suffering?
     
  18. Richard Cranium

    Richard Cranium Well-Known Member

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    Yes, still enjoying MPD.
    Would you like to meet the rest of the gang?
     
  19. Dick Dastardly

    Dick Dastardly Drat, Double Drat, and Triple Drat!

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    I see you're still suffering from C.A.D.
     

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