FedEx Portable Pension Plan Sucks vs. UPS Plan

Discussion in 'FedEx Discussions' started by MrFedEx, Jan 1, 2008.

  1. MrFedEx

    MrFedEx Engorged Member

    I just got my FedEx PPP statement...WHAT A JOKE!! Over the last 3 years of FT work I have accumulated an astounding $7,000 in cash value and a monthly benefit payout of around $50 per month! Thanks Fred!!

    Of course, I can supplement this pittance with our enhanced 401k plan, which will match the first 1% of my wages at 100% (WOW!) and then match up to 5% more (6%max contribution by employee) at a 50% rate. Maybe I can afford to retire in a single-wide down by the city dump if I'm lucky!

    What FedEx employees need to do is start a work slowdown, followed by some mass cases of the "Purple Flu" and let these A-holes know just how "pleased" we are by this kind of treatment. Unfortunately, nobody seems to have the stones to do anything because they've seen what's happened to union supporters in the past when the Teamsters left them hanging by their short hairs when the 1996 effort to overturn the RLA classification failed.

    Hey Hoffa....just where the hell are you on all of this? You say you want us to go union but I hear ZERO about the Teamsters doing anything about getting FedEx Express out of it's RLA classification. If you want us to risk our careers and go out on a limb to support the Teamsters you need to show us something. NOW would be a good time. You guys talk a good line, but I see nothing in terms of meaningful action.

  2. pkg-king

    pkg-king New Member

    You need a union...hopefully your coworkers realize this aswell, good luck!
  3. JonFrum

    JonFrum Guest

    If you put in three years in a Teamsters-sponsored pension plan you get ZERO! If you put in a forth year, you also get ZERO. Your contributions are confiscated by the fund. If you put in a fifth year, you get a small pension which is collectible about one or two or three decades from now when you are 65 years old. Inflation will have drastically reduced the value of your age-65 pension amount in the interveening years. [I realize some Teamster pension amounts are in the $3000-$5000 range, but you are citing what you earned in three years. So I'm comparing apples to apples. Three years to three years.]

    Mr Hoffa is quite busy presiding over the slow colapse of the Teamsters Union. When he gets the time, a smoke-and-mirrors campaign will be arranged that will at least appear to address your concerns. Thank you for calling the Teamsters. The most powerful union in the world.
  4. Fnix

    Fnix Active Member

    I think at UPS every year you work is around $100-$120 you get per month at pension. I'm going by estimates
  5. tieguy

    tieguy Banned

    how much do they end up matching? is it 3.5 percent they will pay each year?

    If you're getting a retirement check and 401 K match then you are one of the lucky few in this country.
  6. old brown shoe

    old brown shoe 30 year driver

    UPS does not match any of our 401k, wish they did. That is worth way more than you think. Your money goes in before tax and the money they match is free. You should max it out and some day it will be worth way more than you will get on your retirement. Over the years compounding interest will snowball into a nice nest egg. Don't depend on pension or retirement plan to be your main income when you retire. Better to think of it as a supplement and not your main source of income.
    As for FedEx going union. we all wish you would and would hope the teamsters would start a huge campaign to organize your people, but wont hold or breath until it happens.
  7. Jumperwire

    Jumperwire Parceling the Fla coast

    I'm sorry but isn't there a Fed Ex forum somewhere that you can vent your fed ex problem's too? If you want to be a parcel employee so bad quit the prender's and fill a application out. I don't think it takes this thread for any of us to realize that a nonunion pension is going to be worse than a union pension!!!! If you hate it so bad leave!!!!
  8. MrFedEx

    MrFedEx Engorged Member

    This is a good forum for FedEx people because our jobs are most comparable with yours. A lot of our issues with management are the same as yours as well.Unlike UPS, we have little to no capacity to fight back. In short, I try to highlight the shortcomings of our compensation by comparing them with your excellent programs. My hope is to try and get FedEx people to see how they are being short-changed and to encourage a move toward unionization. This is an excellent, well-run site that gets a lot of hits, including FedEx people from both the Ground and Express sides. We don't have a similar site, although I have approached your webmaster about a "Purple Cafe" concept. I really do think that us being Teamsters would also help UPS labor be a stronger presence. The fact that FedEx Ground has taken away a fair share of your ground business should be of concern to you as well. As long as FedEx can take advantage of their contractors the way they do, FedEx wins and you lose.

    They have not given us concrete figures as to how much our monthly benefits will rise proportionately over time.The enhanced 401k is better than nothing, but how does that compare to the loss of a true pension program? The old program was cheap, and this one is much worse. It's just the latest take-away in a long list of give-backs to FedEx management.

    I'm sorry if I've offended any of you with my concerns....I just think we're in the same boat. Whenever I see your trucks headed-back to the station at 8pm, or still stuffed full at 1000 am,I know you're going through the same crap we are. At least you get paid fairly for what you do...we don't.
  9. scratch

    scratch Least Best Moderator Staff Member

    There is a Fedex Forum called, but not many people go on it. I have gone on it before, but it is not very busy. As UPSers, we should all encourage our competitors to organize, I don't mind if they come on this site.
  10. Coldworld

    Coldworld Well-Known Member

    So, management get a retirement check, 401k match, and retiree healthcare...anything else? Another question, where is the new crop of mgt people going to come from when all of the 1980's mgt retire? its hard enough to find hub personnel that will make a two year stay, let alone finding drivers in some areas? Please shed some light on these two things tie.
  11. cheryl

    cheryl I started this. Staff Member

    How about if we add a FedEx forum to our existing forums and see how much interest there is from FedEx employees and how much resistance there is from our UPSers?

    I don't really know much about Fed Ex but it seems like their employees would be able to relate to our community pretty well.
  12. brazenbrown

    brazenbrown New Member

    Not only might their pension plan suck but the whole ground unit contractor model may also not bode well.

    Ahead of the bell: FedEx

    UPS and FedEx have for the most part always traded in tandem. Today FedEx was down graded because their contractor ground model leaves their shares at risk.

    So, shouldn't this be good news for UPS?? But UPS is down too and UPS has just ratified a contract with the teamsters which includes taking over the Central States pension fund which should benefit them regarding long term costs..And we don't have contract labor issue with the possibility of owing the IRS a hefty sum.

    My hope is that UPS can separate itself from FedEx by reporting decent numbers with exceptional international growth and we can break this tandem trading thing with the long lost sweetheart of the street..

    Of course oil at $100 a barrel doesn't help either one of us!!

    Just a thought!!
  13. moreluck

    moreluck golden ticket member

    It's my belief that UPS is down because oil hit $100 a barrel.
  14. paidslave

    paidslave New Member

    Wow, $50 after 3 years not bad.....As some one stated UPS employees get zippo...( VERY TRUE). See how much your co-workers are getting after 10 years since that is when we are vested..
    Some one stated we are vested after 5 years but it is 10 years in most locals here in Illinois....This is for full time pensions! I My Vested credit report states it is 10 years not 5 so don't get to disturbed FEDEXER!

    Let me add though: FEDEX needs to Organize a UNION. But I don't believe many TEAMSTERS Would be happy if you have lots of DRIVERS ready to retire and pull a UNION pension when YOUR company never added a dime to it! Just like this CENTRAL STATES CRAP where many employers never added like UPS did and now they are expecting a TEAMSTER pension when most of it is UPS money! Kind of GLAD UPS bought out CENTRAL STATES union so regular UPS employess/TEAMSTER can get what we earned. CENTAL STATES Companys added crap and now their employees want what UPS employess get.. Doesn't seem fair when half these drivers made fun of the BROWN ZOMBIES as we were called....But I am willing to share as long as the funds don't deteriorate in the interim! Reminds me of Social
    Security for Immigrants! Never put crapola in and want the same benefits.....

    I am happy being a TEAMSTER knowing what I'm getting when you retire! Don't let me discourage FEDX from organizing I wish you were a BROTHER TEAMSTER!
  15. MrFedEx

    MrFedEx Engorged Member

    The basic problem with the Portable Pension Plan (PPP) is that it is such a small amount that it really doesn't qualify as a "pension" at all. It makes no difference how long you've been in won't ever get enough to use it as a basis to fund your retirement. The enhanced 401k program will help, but the vast majority of the funding comes out of the employee's pocket. FedEx matches the first 1% fully, and then will match 50% of an additional 5%....that's it. No matter how you look at it, the FedEx contribution is miniscule compared to what they had to put into the former traditional pension plan, which was nothing great either. In essence, the PPP has become an employee-funded program.

    Those of us fortunate enough to have a significant number of years under the old "traditional program" won't do too badly, but what about newer employees who don't have that back-up plan? If you're still young enough to move to a different company or another career, by all means DO IT NOW!!! If we do ever unionize, FedEx might become a worthwhile career, but as it stands now, any and all employees who are not either pilots or management are completely disposable.

    I know that when you are 20 or even 30 years old, retirement looks a long way down the road. The reality is that it's upon you before you even know need to plan now, and FedEx isn't doing you any favors.
  16. DeputyDip

    DeputyDip Backwoods Hillbilly

    Although not currently employeed at FedEx, I do have a few good friends throughout the FedEx Corp. A few at Express, a few at Freight. I agree, the PPP is a joke in comparison to past pensions. However, if you look around, it's going this way at a lot of corporations - not just FDX. You cannot count on ANY company to "take care of you". People need to take responsibility for their own retirement. That means not buying that new vehicle every couple of years, or not living in the biggest house on the block. A lot of retirement assets can be hatched in your 20's & 30's. Then, if the markets allows it, that nest egg will grow nicely over time. As far as unionizing FDX and it becoming a worthwhile career, who knows about FDX, UPS, or any major corporation these days. It's all about the all mighty $$$ and keeping the stock holders happy. If that means cutting costs at the expense of an expendable employee or their benefits, that's way it is going to roll. Sucks, but true. I still have 30+ years before "retirement age" comes knocking and wouldn't mind becoming a courier at Express. I threw a few boxes around there P/T in the past. It's what you want and make out of it. I believe it's a career that brings discipline, accountability, and instills a work ethic that isn't easily matched. In other words you can't merely exist from day to day, you actually have to work to keep your job. The days of working for a single employer for life and having them take care of you are gone no matter what career you choose.
  17. FedexExEmployee

    FedexExEmployee New Member

    I'm also on the Fedex forum at

    It's nice to post here as well though. Considering the work is so similar, it makes alot of sense.

    I quit Fedex in June and still visit the sites. Why? Cause I hate Fedex and want to spread the word :angry: lol

    My hope is that I will discourage people from working at the Purple Monster.

    For those already working for there, I truly feel for them and hope they can find themselves looking elsewhere for employment.
    Unless you have 20+ years invested, it's not worth staying.

    As noted here, the pension is a JOKE. Quite frankly, it's INSULTING.

    An ex co-worker of mine left after 16 years with Fedex. He was at the same station as me. He said my leaving woke him up and led him to make the same decision. For that, I am truly happy. No one deserves to be treated like shi* for breaking their butt day in and day out.
  18. IWorkAsDirected

    IWorkAsDirected Outa browns on 04/30/09

    Too many today just don't plan and take care of themselves. I am so very grateful for my Teamster's Pension Plan, after 22 years I will be getting nearly 3,000 a month with great health benefits at no cost.

    However when I started over 20 years ago I had no intention whatsoever of staying long enough to receive my pension so I started contributing 10% to the 401k as soon as I was eligible.

    I learned a long time ago you have to take care of yourself cause no one else will.
  19. under FedEx

    under FedEx Guest

    Wake up man! The fedexaminer site is owned by a lawyer trying to recruit participants for lawsuits against FDX. This topic was covered here years ago.
  20. under FedEx

    under FedEx Guest