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FedEx Freight | Where would you put compensation gains?

johndeere4020 said:
I did send you a PM on January 7th you never responded like a child. Ex pointed out that there's no free lunches and I agree. But it's not that cost prohibitive especially for a larger business and IS cheaper than a defied benifit plan. And I NEVER claimed it was free as you claim. On the ground argument you were wrong there are no ground company drivers even after the court rulings. Then instead of admitting being wrong you threw a little tantrum about not ruining a thread and smoke said it was a damn good idea, I can take a hint so I dropped it but you were wrong and you know it. Besides your supposed to be ignoring me.
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No you didn't sorry never got a pm from you. No you said it wasn't a benefit which i dug it up and then i provided a link to prove you wrong. On the ground argument don't even remember and don't care im sure you were wrong like usual. I don't remember when you were actually right.
 
Crazy Trucker said:
No you didn't sorry never got a pm from you. No you said it wasn't a benefit which i dug it up and then i provided a link to prove you wrong. On the ground argument don't even remember and don't care im sure you were wrong like usual. I don't remember when you were actually right.
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I said it wasn't anymore of a benifit to a union employee without the match than an IRA is to a non union employee. You tried to say that because the employer covered the cost to administer it that made it a "benifit" but a 401K costs you fees also. So without the match your better off in a IRA because they usually have more options. The whole stupid argument was based on the fact that when your side tries to compare compensation packages you want to include a 401K as a credit to the union and don't credit the non union retirement plan with an IRA option and without an employee match doesn't make it a benifit because they pay a small fee.
 
johndeere4020 said:
I said it wasn't anymore of a benifit to a union employee without the match than an IRA is to a non union employee. You tried to say that because the employer covered the cost to administer it that made it a "benifit" but a 401K costs you fees also. So without the match your better off in a IRA because they usually have more options. The whole stupid argument was based on the fact that when your side tries to compare compensation packages you want to include a 401K as a credit to the union and don't credit the non union retirement plan with an IRA option and without an employee match doesn't make it a benifit because they pay a small fee.
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Wrong couldn't be that small if the federal government is trying to pass legislation to make it cheaper for small business. Your wrong :6817:
 
Crazy Trucker said:
Wrong couldn't be that small if the federal government is trying to pass legislation to make it cheaper for small business. Your wrong :6817:
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Fedex isn't a small business, my employer is and I asked him directly he said to be honest he hasn't personally dealt with it for a while but it wasn't that much, and we have quite a few employees but most are on different union plans so just the office and supervision is in the 401K. If it were a big cost he would know and would have told me.
 
Crazy Trucker said:
No you didn't sorry never got a pm from you. No you said it wasn't a benefit which i dug it up and then i provided a link to prove you wrong. On the ground argument don't even remember and don't care im sure you were wrong like usual. I don't remember when you were actually right.
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Maybe it's because you have me on ignore. (Which you're not good at by the way)
 
johndeere4020 said:
Fedex isn't a small business, my employer is and I asked him directly he said to be honest he hasn't personally dealt with it for a while but it wasn't that much, and we have quite a few employees but most are on different union plans so just the office and supervision is in the 401K. If it were a big cost he would know and would have told me.
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Backpedal and deny. Classic
 
There are income limits when determining whether you are eligible to contribute to a Roth, whether it's a 401(k), IRA, or 403(b) etc.

There are also rules about converting those traditional plans to Roth, if you qualify, it may be worth taking that risk.

Personally, I feel that for a ROTH to make sense one must believe that their tax rate is going to be higher when they retire than it is now. Secondly, you also have to believe that laws won't change and you won't have to pay taxes on the gains later.
 
SwampRatt said:
Great info JD. Thanks for posting the link!

From the Employee Benefits Security Administration, linked above:

"You should be aware that your employer also has a specific obligation to consider the fees and expenses paid by your plan. ERISA requires employers to follow certain rules in managing 401(k) plans. Employers are held to a high standard of care and diligence and must discharge their duties solely in the interest of the plan participants and their beneficiaries. Among other things, this means that employers must:

  • Establish a prudent process for selecting investment options and service providers;
  • Ensure that fees paid to service providers and other expenses of the plan are reasonable in light of the level and quality of services provided;
  • Select investment options that are prudent and adequately diversified;
  • Disclose plan, investment and fee information to participants to make informed decisions regarding their investment options under the plan; and
  • Monitor investment options and service providers once selected to see that they continue to be appropriate choices."
401(k) plan fees and expenses generally fall into three categories:

"Plan Administration Fees..."

"Investment Fees..."

"Individual Service Fees..."

I'll have to pay closer attention to the disclosure statements as to the cost to administer. I know all about the fees I/we pay, depending on fund choice, but the Company portion received none of my attention.
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I think they are falling short of duties in several areas. If I read the report right then they are paying roughly $4.5 million in fees for over 204,000 participants. Average fee paid per employee would be $22. I will gladly pay that fee to be able to have access to all the plan options or switch to another firm.
 
Crazy Trucker said:
Nope I didn't safe bet I don't have 401k seriously have you looked at our portable pension? If I didn't have 401k I would be screwed. They could make us a defined pension if they wanted too. Don't see it happening though with out help from outside influence. Kind of funny these other companies can do it but not fed ex it costs too much.
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so what you're saying is that it's the company's responsibility to pay off your house and provide you with a retirement? You have no responsibility for your future??? Is that how you think?
 
silent trucker said:
so what you're saying is that it's the company's responsibility to pay off your house and provide you with a retirement? You have no responsibility for your future??? Is that how you think?
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What are you even talking about? You sound like Bernie Sanders. No where did I say any of that. Bottom line they could give us a decent pension.
 
silent trucker said:
I agree with that...however, you have no right to comment...if you don't belong to the 401 (k). If you care about retirement, then you'd put your own money in the game...end of story.
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Again what are you talking about? I have a good bit in my 401k and I contribute alot for someone my age.
 
EX396 said:
There are income limits when determining whether you are eligible to contribute to a Roth, whether it's a 401(k), IRA, or 403(b) etc.

There are also rules about converting those traditional plans to Roth, if you qualify, it may be worth taking that risk.

Personally, I feel that for a ROTH to make sense one must believe that their tax rate is going to be higher when they retire than it is now. Secondly, you also have to believe that laws won't change and you won't have to pay taxes on the gains later.
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Agreed, but it's not a bad option to have... Tax free return, ability to withdraw (contributed amount) without penalty...
 
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