Thank YOU brother. Now for some long overdue Down Time.
Merry Christmas! Happy New Year! Cheers!
FedEx Freight | Q-2 Earnings - Bonus numbers - Wait for it...
- Thread starter SwampRatt
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Merry Christmas! Happy New Year! Cheers!
interesting to know that only 21% of eligible employees trust the company won't screw them on the 401k. that means 79% saw thru the B S.....just sayinA couple of interesting bits of info from the earnings report. Things we might otherwise never know. NOT getting into "express" or "ground". Just Freight, and just a little bit of that.
Source: https://s21.q4cdn.com/665674268/fil...2/q2/52a1779c-aeda-41dc-b482-215d2c35d2e0.pdf
"In the second quarter of 2022, we incurred a pre-tax, noncash MTM net loss of $36 million related to the U.S. FedEx Freight Pension Plan. During the second quarter of 2022, 21% of FedEx Freight employees elected to move from the current pension/401(k) benefit structure to the new 401(k)-only structure with a higher company match effective January 1, 2022. The $36 million net loss consisted of a $75 million MTM loss due to a lower discount rate, partially offset by a $39 million curtailment gain."
Interesting that average revenue per shipment is always higher for ECONOMY than Priority. I know there are several factors at play - weight per/length of haul, etc., but still significant.
silent trucker
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Just means they'll force close the pension sometime in the next couple of years.
more likely to cut 401k contribution first
Purplepromised
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They aren't letting new hires into the pension so pretty much that same thing.
I seriously doubt that. They don't tell us how many were cut off from the pension plan, NOT of their own choosing, new-hires never having the option.
The pension will die from attrition - no new members - eventually. A couple years? No. More like a couple decades... Stay tuned.
totally agree
Thats what I was afraid of.
silent trucker
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The only reason they don't let us roll our money out, say into our 401 K, is because the money is loaned out. As the loans are termed out, they'll keep whittling away at how many are in the pension. Closure will happen sooner than you think. IMHO.
Panhandler92
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The way I saw it, is if you plan on being around for a while longer (10-20-30 years) it was more worth to make the switch, whereas if retirement was in the cards earlier than that it wasn't.
I took the change since I probably won't see retirement before 2060 myself, and I would rather it be in a 401 where it can't be taken from me at a moments notice (versus the pension that isn't a 100% thing either)
joes bar and grill
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You mean like in a market "correction"?
Panhandler92
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Less chance than FedEx just telling you to pound sand days before retirement.
that 4.5% is just making up for the crappy insurance you guys are paying for. It's really not a bonus.
So your knees hurt so bad cause you have been carrying the company for soo long? Just when I thought I heard it all, someone just has to bring it to the next level of comedy.. I bet you blame the doctors when you have a medical issue instead of staying healthy. Besides a union company I’m the trucking industry, what other LTL company has such a better health insurance then we do as far as taking out of your check each week and for the coverage. I’m sure your response will be a I’m a purple kool aid drinker, cause that’s all I ever hear or people bring up UPS as an example which is not the same. I love this website cause
Of all the unhappy miserable people still work for a company that they think k they can run themselves but yet probably don’t even really understand there own 401K or medical insurance and how it work. Lol. I welcome all sarcastic remarks!
Of all the unhappy miserable people still work for a company that they think k they can run themselves but yet probably don’t even really understand there own 401K or medical insurance and how it work. Lol. I welcome all sarcastic remarks!
401 k is garbage. pensions are the way to go. the medical insurance sucks. y'all need to stop eating and drinking the purple kool aid packets and channel that energy into getting a union organized. a 400 dollar bonus after taxes is garbage, compared to the crappy insurance and medical bills y'all are paying for
401k is garbage if you don’t know how to invest and vanguard is one of the best low cost plans there are. I guess a 16% return since weve had vanguard is :
:, huh? Lol..A $400 dollar bonus after taxes? I guess your a dockworker or hardly DONT work at all.. As far as insurance goes, it could be better but go call insurance companies and ask them how much would it cost you if you had the same insurance that FedEx offers but you would have to pay on your own. Good luck and god bless