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Early Retirement Payout
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<blockquote data-quote="vantexan" data-source="post: 2724652" data-attributes="member: 24302"><p>If you Google "FedEx Offers Buyouts Journal of Commerce 2003" you'll see that there was a early retirement program for salaried employees who were at least 50 with at least 5 years. And there was a voluntary severance program which gave a lump sum offered to all salaried employees that gave a lump sum plus extra payments based on years of service. And all of this was a cost cutting measure according to FedEx because Express was overstaffed. So you were right on part of it, however what happened then is not the same as offering a lump sum option on the traditional pension now. What's happening now is FedEx retirees with a traditional pension now have the option of taking a lump sum payment. Considering many 55-60 year olds may live to 80 or more it would be a huge advantage to the company to have anyone elect that option.</p></blockquote><p></p>
[QUOTE="vantexan, post: 2724652, member: 24302"] If you Google "FedEx Offers Buyouts Journal of Commerce 2003" you'll see that there was a early retirement program for salaried employees who were at least 50 with at least 5 years. And there was a voluntary severance program which gave a lump sum offered to all salaried employees that gave a lump sum plus extra payments based on years of service. And all of this was a cost cutting measure according to FedEx because Express was overstaffed. So you were right on part of it, however what happened then is not the same as offering a lump sum option on the traditional pension now. What's happening now is FedEx retirees with a traditional pension now have the option of taking a lump sum payment. Considering many 55-60 year olds may live to 80 or more it would be a huge advantage to the company to have anyone elect that option. [/QUOTE]
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