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FedEx Discussions
Sweetened the pot/401k
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<blockquote data-quote="MrFedEx" data-source="post: 1436454" data-attributes="member: 12508"><p>Right. I can't believe the number of idiots I know who say "We have a pension". <strong>No, you don't. The PPA is an ANNUITY...it is NOT a pension. </strong>FedEx dumps a minimal amount of money every year into an annuity, which they call a "portable pension". It's portable in the sense that you get a lump sum when you leave, and the "pension" portion is laughable. You might be able to fill your gas tank (once) with your monthly payout.</p><p></p><p>After reading the OP's post more closely, the fact they have outsourced Vanguard is concerning. My guess is that the fund and choices have remained the same, but that the customer service employees are now in India or wherever. Historically, Vanguard has been an excellent low-cost group of funds.</p><p></p><p>Somehow, FedEx will figure out a way to screw us out of that too.</p></blockquote><p></p>
[QUOTE="MrFedEx, post: 1436454, member: 12508"] Right. I can't believe the number of idiots I know who say "We have a pension". [B]No, you don't. The PPA is an ANNUITY...it is NOT a pension. [/B]FedEx dumps a minimal amount of money every year into an annuity, which they call a "portable pension". It's portable in the sense that you get a lump sum when you leave, and the "pension" portion is laughable. You might be able to fill your gas tank (once) with your monthly payout. After reading the OP's post more closely, the fact they have outsourced Vanguard is concerning. My guess is that the fund and choices have remained the same, but that the customer service employees are now in India or wherever. Historically, Vanguard has been an excellent low-cost group of funds. Somehow, FedEx will figure out a way to screw us out of that too. [/QUOTE]
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