FedEx Freight | The Union Debate Thread

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On my last pension update it said if I retired right now I could draw just a tad over $200 a month, I don't know what anyone else is going to make or what it will be when I do retire, but I don't expect it to be to much more than that IF it is even around at that point which I don't really expect it to be. Also I wonder just what kind of health insurance Ole Freddie boy has and if it could be considered a Cadillac plan.

Exactly people who don't work here have no idea what the pension plan is all about.
 
Our pension is based off of several factors. I received a statement a while back that showed with my current age, along with my current salary, I would have a "projected" monthly payout of $1,400 a month IF I worked till I was 65. Our pension isn't the only retirement plan the company offers, that "projected" $1,400 a month, along with my "projected" 401K, will leave me sitting well should I choose to work till 65...which I don't!! Now that, added to my other investments that I've made, should allow me to retire early and enjoy the fruits of my labor.

For the guys that are older than me, they probably won't draw as much and for the guys younger than me, they'll probably draw more which is all due to our pension plan not being started till 2008. For the guys who's been with the company for 20 yrs at 2008 and are pushing 30 yrs now, there pension will be dismal but their 401K should make up for the difference. For the guys who started in 2008 or later, their pensions will be much better and will also be supplemented by their 401K's.
It's not rocket science!!
 
On my last pension update it said if I retired right now I could draw just a tad over $200 a month, I don't know what anyone else is going to make or what it will be when I do retire, but I don't expect it to be to much more than that IF it is even around at that point which I don't really expect it to be. Also I wonder just what kind of health insurance Ole Freddie boy has and if it could be considered a Cadillac plan.

Ok we've had this conversation several times but I'm bored so why not? How long have you payed into that pension to get that $200 a month? You do understand that it's part of a larger package and not intended to be to be your sole retirement package right? Look I'm not now and have never said it was a terrific deal and Fedex can certainly do better but there's a clear double standard at work here and that's annoys me. Fedex likes to pretend it's a great deal which you guys like to call BS on, the same applies to you guys acting like you've got nothing both are exaggerations.
 
Here is a good post by the point in which he points out our own company info that our pension is underfunded.

Soo many points made here. Mark to market loss? Why does the company continue to invest the pension in low return instruments? Quote from report :
"The actual rate of return on our U.S. Pension Plan assets of 1.2% was
lower than our expected return of 6.50% primarily due to a challenging
environment for global equities and other risk-seeking asset classes."
Even with our crappy 401(k) I am able to scrape out a 7% return. Using my own brokerage account I have a 24% return. How is it that I, as just an average truck driver, am able to beat the high priced financial wizards we trust our future retirement to? In 2015 we were short $4,007,000,000 in 2016 we are now $5,331,000,000 short in the pension fund. Sound familiar people? 2015 the company paid in $746,000,000 but paid out $815,000,000. 2016 the company paid in $726,000,000 and paid out $912,000,000. Notice how we paid in less year over year and paid out more, WTH? And for those that say FedEx can just write a check to make it current crowd look at those numbers again. We only have 3.5 billion in cash reserves. Still 1.8 billion short if we go all in.

Listed in risk factors are re-branding. I expect the TNT to contribute heavy in that department but also the unnecessary re-branding of every opco to orange. Get ready for future loss in this department and this will weigh on our bonus I suspect if they distribute the cost to each opco rather then out of the general fund.

The labor mention is aimed at the potential increase in benefits as the result of a contract with the four centers. Funny how FedEx marginalizes these four centers but warns of the impact they could have in the future.

Looking at the self insurance accruals expenses it would appear that our Health Care actually went down? I would like to know what falls under the other column?
 
If you'll do the math, if you choose to work till your 65, I'll guarantee you you'll draw more than anyone in the CSPF!!!

So your compairing our super duper pension to one that's being cut? Classic!!! In case you missed it or just ignore it, our pension is severely underfunded just like cspf so it may not even exist by the time i retire.
 
So your compairing our super duper pension to one that's being cut? Classic!!! In case you missed it or just ignore it, our pension is severely underfunded just like cspf so it may not even exist by the time i retire.
Fine, if you choose to work until you're 65 AND you contribute to your 401K, I guarantee you'll draw atleast what a UPSF employee will draw, if not more.
You have no proof that our pension won't exists, just more doom and gloom.
 
Fine, if you choose to work until you're 65 AND you contribute to your 401K, I guarantee you'll draw atleast what a UPSF employee will draw, if not more.
You have no proof that our pension won't exists, just more doom and gloom.

Doom and gloom its underfunded by more than 5 billion dollars. I guess that must be pennies, like i said our fund is no different than cspf.
 
Its funny how you jump all over cspf but when someone has a valid point about our pension being underfunded by over 5 billion you just bulk and ignore it.
Goldman Sachs was running the central states pension fund when it lost $8 billion that they got from UPS. I think maybe they should put a truck driver in charge. might of made safer bets with that money.
 
Goldman Sachs was running the central states pension fund when it lost $8 billion that they got from UPS. I think maybe they should put a truck driver in charge. might of made safer bets with that money.

As long as it's not Red. He fails to see the problem with our fund being severely underfunded and conveniently forgets if fed ex claims its underfunded they can take it back.
 
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