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Brown Cafe UPS Forum
UPS Retirement Topics
May 10th Announcement .Pension
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<blockquote data-quote="Channahon" data-source="post: 194261" data-attributes="member: 7666"><p><strong><u>SEC </u>filing by FedEx for pension changes.</strong></p><p> </p><p> </p><p><u><strong>Portable Pension Account Benefits </strong></u></p><p>FedEx summarized many of the changes to employees in a series of communications that began today, and it will share additional information and educational materials in the coming months. </p><p>The enhanced, Portable Pension Account offers several benefits: </p><p>• Employees can take their vested benefit with them if they leave FedEx; </p><p>• It is flexible and offers the choice of monthly benefit payments or a lump sum payment; </p><p>• Pre-retirement death benefits can be paid to a spouse or any other designated beneficiary; </p><p>• There is no limit on years of service under which benefits accrue; </p><p>• Benefits will be vested after three years of credited service, compared to five years currently; • Eligible employees who have accrued benefits under the traditional pension benefit formula will receive transition credits</p></blockquote><p></p>
[QUOTE="Channahon, post: 194261, member: 7666"] [B][U]SEC [/U]filing by FedEx for pension changes.[/B] [U][B]Portable Pension Account Benefits [/B][/U] FedEx summarized many of the changes to employees in a series of communications that began today, and it will share additional information and educational materials in the coming months. The enhanced, Portable Pension Account offers several benefits: • Employees can take their vested benefit with them if they leave FedEx; • It is flexible and offers the choice of monthly benefit payments or a lump sum payment; • Pre-retirement death benefits can be paid to a spouse or any other designated beneficiary; • There is no limit on years of service under which benefits accrue; • Benefits will be vested after three years of credited service, compared to five years currently; • Eligible employees who have accrued benefits under the traditional pension benefit formula will receive transition credits [/QUOTE]
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May 10th Announcement .Pension
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