We do not want a UNION at FEDEX NATIONAL...PERIOD! Part Duex

[Overnite]

A pension can be rpomised to you for 29 years but if the company goes bankrupt, your pension goes bye bye, a 401k can not ever be taken from you.

[teamsterwannaB]

who`s we in this post are you speaking for everyone at fedexnat?????

[TheBigR]

Originally Posted by Overnite

A pension can be rpomised to you for 29 years but if the company goes bankrupt, your pension goes bye bye, a 401k can not ever be taken from you.

Jeez, How many times do we have to tell you"the company cannot touch the money that has been paid into your pension". The company has no control, other than an equal number of advisers on the board overseeing the investments of the board. Ask any retired CF, Preston or any other company that has closed. The man still gets his pension. I'll bet your company can "borrow" from your 401 money that they contribute, just for "emergencies", and I'll bet you'll be more than ready to help them. I wonder how those Enron and Adelphia 401's are doing............

[Overnite]

Originally Posted by TheBigR

Jeez, How many times do we have to tell you"the company cannot touch the money that has been paid into your pension". The company has no control, other than an equal number of advisers on the board overseeing the investments of the board. Ask any retired CF, Preston or any other company that has closed. The man still gets his pension. I'll bet your company can "borrow" from your 401 money that they contribute, just for "emergencies", and I'll bet you'll be more than ready to help them. I wonder how those Enron and Adelphia 401's are doing............

you are clueless, go look up enron pension, go look up delta pension or I will compile a list for you these people were promised pensions and got nothing,

There is no such thing as an enron 401k or adelphia 401k, companies don't run 401k's, 401k's are 100% your money and cannot be touched by anyone except you EVER!

when enron went down the pensions dissappeared, not the employees 401k
Same with delta and IBM there pensions dissappeared.

401k is your personal property.

A pension fund is 100% controlled by the company and can be borrowed and spent at the companies lesuire, I am on my way to work and can't find links for you to educate yourself on, how about you find some for me to read up on these adelphia and enron 401k's, or facts to back up anyother thing you listed.

[CFer]

Originally Posted by Overnite

you are clueless, go look up enron pension, go look up delta pension or I will compile a list for you these people were promised pensions and got nothing,

There is no such thing as an enron 401k or adelphia 401k, companies don't run 401k's, 401k's are 100% your money and cannot be touched by anyone except you EVER!

when enron went down the pensions dissappeared, not the employees 401k
Same with delta and IBM there pensions dissappeared.

401k is your personal property.

I'm not up on the Adelphia or Enron situation but I'd be willing to bet that the company match that both of these companies made to the employers 401K was in the form of company stock. With this in mind I bet you'll agree that employees of both of these companies lost a lot of money due to the companies mismanagement.

A pension fund is 100% controlled by the company and can be borrowed and spent at the companies lesuire,

Your pension may be that way but the union pension is not. No union carrier that is part of one of the Teamster pension plans has access to a penny of that money.
The employers pay monthly into the Teamsters funds on the employees behalf and a board of trustees made up of employer AND employee trustees manage the fund.

[TheBigR]

Originally Posted by Overnite

you are clueless, go look up enron pension, go look up delta pension or I will compile a list for you these people were promised pensions and got nothing,

There is no such thing as an enron 401k or adelphia 401k, companies don't run 401k's, 401k's are 100% your money and cannot be touched by anyone except you EVER!

when enron went down the pensions dissappeared, not the employees 401k
Same with delta and IBM there pensions dissappeared.

401k is your personal property.

A pension fund is 100% controlled by the company and can be borrowed and spent at the companies lesuire, I am on my way to work and can't find links for you to educate yourself on, how about you find some for me to read up on these adelphia and enron 401k's, or facts to back up anyother thing you listed.

Obviously you have lied in your profile, listing yourself as a driver for Overnite. Your lack of knowledge of the Teamster pensions indicates you are a newbie in the industry, if you are even in the industry. I'm sure many of the more educated non union employees (GFY, APO, how about a little help here for this young man) who are familiar with the Teamsters will chime in here and fill you in. Do a Google search on SEPF and MEPF, if you know what they are, and get a basic education of how pensions work. 99% of company matches in 401k's are with company stock. Most companies, such as Enron et al; would not allow their employees to sell their shares of Enron stock in thier 401k's as the company went up in flames. Until you learn the basics, stay in the minors and don't come to play with the big boys. Your in way over your head. PS; be careful with the name calling. (Rule 2)