Sniper, was it GOOD for you and your wife when Fred took away the Traditional Plan? In another post, you mention having to work into your 60's, and my guess is that means your wife too. Is that GOOD? Mr. Smith didn't have to kill the pension, but he did, because we don't have a union to stop huge takeaways like that one. Is that GOOD, too? You see, Fred pulled ERISA funding out of his ass because that's all he had, and all of the dumb employees just said "OK", and rationalized it by saying "It is what it is". If you remember, that's when all of the passenger airlines were going bankrupt and using the pension guarantee program from the federal government. Because FedEx is an "airline" (not really), Fred used this golden opportunity to lie and say his motivation was to preserve our "threatened" pension, which wasn't threatened at all. Trouble is, FedEx was still highly profitable, and the Traditional Plan could have easily been retained. It wasn't even a good plan, but much better than the PPA annuity we have now. Your buddy Fred screwed us because he could, and because he saw a way to enrich himself at our expense.
So, when you're still a courier at age 65, you can thank Fred. Because most of our hours have been cut and our wages haven't kept up with inflation, few employees can max-out their contribution to the 401k, which is the real retirement plan these days. As your take-home wage shrinks in comparison with the cost-of-living, you get to make-up the difference if you want to maintain a decent lifestyle, so thanks to FedEx, many of us get to take second jobs, including yourself. In the mean time, your UPS counterpart can max out their 401k, know that they will have a very good pension when they retire, and not have to work a second job just to make ends meet.
See, I SHOWED you that Fred is reaming you out, and you still stand by the bastard like he's your best buddy...he's not.