Call the Retirement Service Center and ask them. My numbers are correct. The portable pension was started in 2003 for newhires, but the traditional ended in 2008. Those of us who didn't go into the portable pension voluntarily were forced into it in 2008. I don't know the exact year you started but let's say it was May 1976. 32 years later they terminated the plan. All years in that 32 you worked at least 1000 hours are considered when figuring your traditional pension. If that number is 30, then the 5 highest paid years of those 30 will be averaged together. That of course is if they had the traditional pension when you started. I originally started in '86 but as I was part-time at the Memphis Hub my first year didn't count.
Once again. I enrolled into the portable the day it was offered. I believe it was 2003. My 5 best years ended right then, not 2008. My traditional was maxed out at 25 and I spent a couple of years after that in a plan that did not grow except for my 5 year average getting larger. It was a no brainer for us to immediately enroll into the portable. I wish my 5 best did continue till 2008 but that is just not the case. The portable was a great benefit for me. How it affected others I can't say and can't be concerned with. Just like the stock I am holding that was given to us years ago. The fact that you or other less senior people were not given that stock is not my problem. If you started in '86, I was given that stock before you graduated high school most likely. Just like the $2500/$3000 current profit sharing we used to get. If you didn't get it, I can't help that. I wished things were like they were back then. But you can't live in the past and companies that don't change and don't look to the future wind up being left behind or have For Lease signs in their parking lot.
OK you didn't say before that you enrolled in the portable pension in 2003. But here's the thing...your experience is based on when FedEx was a much better company. Many complaining here have had to work next to topped out people for 10-15 or more years and not only weren't catching top out pay but top pay was pulling away from them. You get after us for complaining, but it's not just our pay, it's our families' lives that are affected too. And you forget that we stuck with it. People say go work somewhere else but if everybody did FedEx wouldn't exist. FedEx doesn't want the turnover and the new pay plan is due to turnover. Give us credit for sticking it out. But we sacrificed a lot doing so, and endured a lot doing so. We've earned the right to bitch just as much as you have to praise FedEx. Maybe more so because we sure didn't get your deal.
LOL. Get back to me when you go 4 years without a raise like we did when Mary Alice Taylor was in charge. Get back to me when you are driving trucks in 100 degree temps that don't even have AC. Get back to me when you are driving trucks with manual transmission in bumper to bumper traffic. Get back to me when you have a Zapmail program that is bleeding the company dry until it was finally shut down. We made tremendous sacrifices back then to make things happen. We survived and the company survived and I only hope the miserables will allow it to survive for the next 40 or so years.
I started in '86, became a courier in '88, topped out in '90, went through much of what you did. Get back to me when you have mgr putting your freight in U.S. Mail to keep you from getting overtime. Get back to me when mgr and Sr mgr deceive you about location of JCATS opening, and that location turned into hell on Earth on the Mexican border. I was probably only courier in country that had a small tractor trailer sent 300 miles roundtrip to pick up my outbound. Loaded 100's of boxes in 100-107 degree heat with humidity, started at 1000 and worked past 2200 many a day there. And I've got plenty more. You may have more years but I've worked 28 of the last 30 and will put my experiences with FedEx mgmt and bad routes up against anyone's any time. And I was making $12.57hr in that border location too. No doubt you have had bad experiences with FedEx, but your deal is just plain better. Your better money back then was worth more than ours now too after inflation.
And what did you get for all this? A pat on the back with an "atta boy" thrown in for good measure? Many couriers drove in 100+ temps with no A/C. Been there, done that. A lot of us put up with idiots like Mary Alice Taylor who was in no way a people person and Zapmail was poorly planned from the git-go as personal and business fax machines were right around the corner. A little bit of research could have avoided that fiasco.
And what do you say to the 10+ year employees being told they have to work another 8 years to get to top out when a new hire can come off the street and do it in 9 years? Think that's comparable to 4 years without a raise?
Heck I worked in 125 degrees in Bullhead City, AZ. Most of my years were spent in high heat areas. My hat is off to those who work in serious cold weather. Once changed a tire in 65 below wind chill. I'll take the heat any day.
Bingo. It is all about me. Just like I tell my fellow employees when they whine like the miserables on here when I got all the good vacations and they get the leftovers. They have my sympathy but I am taking my 6 weeks off, if scheduled properly, and they can have the rest.
Amazing.
Corporate cutthroat. Swashbucklers and Lackeys. It reeks, I can usually see it from a mile away. Aside from peak, I do my 35 and run, not walk out the door.
Yes oldfart it is indeed all about you. So just keep your mouth shut. Just by sheer luck you somehow managed to hook on with an upstart company in a fast growing segment of the economy. That was then this is now. This particular industry is reaching maturity with intense competition and an economy that is feeling the effects of the worst recession in nearly a century and will experience very slow growth for decades to come. As a result the disparity between the value X offers it's employees and the value it demands is the widest it has ever been and will grow even wider in the days ahead. As for your precious stock the main driver of the price since 1997 has been it acquisition of RPS and it's contractor fueled high operating margins that made a significant contribution towards X's ability to weather the recession. Today after disposing of hundreds of single work area contractors who contributed mightily toward surviving the recession the handful who remain are under heavy downward pressure on settlements and in doing so it is robbing the contractors of their margins in order to ensure the continued expansion of the company's margins and therefore continue to keep you in your sheltered little world. As a member of the WWII Boomer generation I must inform you that you are an embarrassment to our generation. Furthermore you should be both humbled and grateful for the fact that good fortune and good fortune alone is responsible for your current security both for that and the sacrifices our parents generation made to ensure it. If they had not succeeded today you would be bowing to the emperor while driving around in a state owned truck with a swastika on the side of it for a state determined wage and living in a state owned apartment
My parents bought their house for $30 000, back in 1978. That was with my dad as the sole bread winner. Today, my mom could easily get $200 000 for it, possibly more. Your dollar just went further back then and there wasn't a need for a second income.
