Employee 1100.00 pension goes to 10 cents a month...

Discussion in 'FedEx Discussions' started by Jointhe99Percent, Mar 7, 2014.

  1. Jointhe99Percent

    Jointhe99Percent New Member

    FedEx employee 1100 a month pension is reduced to 10 cents a month. Can this happen to anyone of us or this a phony article? I'm freaking out over this.
    Last edited: Mar 7, 2014
  2. Route 66

    Route 66 Bent Member

    of course it could happen!....Fred still needs to eat, ya know.

    The former employee sounds like a major whiney ball-baby, and should be grateful Fred isn't leaving her penniless, as would be his right.
  3. vantexan

    vantexan Well-Known Member

    I plan to take the Social Security Leveling option which for me will give $1701.00 a month at 55(instead of the early retirement of $1130)then drops to $229.00 a month at 67. Did this person choose that option?
  4. NonyaBiznes

    NonyaBiznes Yanked Out My Purple-Blood I.V. In 2000!

    Smith meanwhile retains $26,411,752 accrued under the FedEx Retirement Parity Pension Plan and $1,164,464 under the Employees' Pension Plan. Additionally, Smith's $1.4 million salary only comprised 13 percent of the $10.9 million that he raked in for 2008. In fact, 55 percent of Smith's 2008 pay was in stock options not tied to any performance goals.

    As of May 31, Smith also held currently exercisable, in-the-money options worth $24.9 million, based on yesterday's closing stock price. In the past two years alone, he's exercised options worth more than $60 million.

    * facepalm *
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  5. CJinx

    CJinx Well-Known Member

    He owns the company. :\
  6. Cactus

    Cactus Just telling it like it is

    That doesn't mean he does things in the employees best interests.

    Sent using BrownCafe App
  7. vantexan

    vantexan Well-Known Member

    No, he's the single biggest stockholder in a publicly traded company.
  8. FedExRookie

    FedExRookie Member

    His 2012 payout was performance based, this was 2 years after FedEx posted less than a billion dollar profit and 1 year before they posted 1.6 billion in profits (2013) .

    Why was his 2008 non performance based? Because the company was doing fine before that, once profits tumbled (great recession) his payouts became performance based. As a stockholder in other companies I see no problem with that.

    Considering the executives got top of the line payments in 2012, that irks me, since handlers got not raises and couriers got small raises if any in 2012. Reward the executives for growing profits again, but don't shove it up the labor forces you know what at the same time.
  9. 59 Dano

    59 Dano Some of my best friends are black.

    An anonymous person on the internet made a crazy claim about someone else's pension. 99.99999 percent of the time they are confused. Thoroughly confused.
  10. MrFedEx

    MrFedEx Engorged Member

    For once, you're right. I'm not sure what to do because reality has been disrupted. There could be a tear in the Cosmos and the world could end, or, you finally got something right.
  11. 59 Dano

    59 Dano Some of my best friends are black.

    I guess we don't count all those times when it was pointed out that your predictions, based on your extensive insider knowledge, never got anywhere close to being accurate. Among other things.
  12. MrFedEx

    MrFedEx Engorged Member

    I've got a pretty good track record. That's why you're here as of late. FedEx is "concerned" that the BC needs to be managed by the Social Media Lackey (SML).
  13. 59 Dano

    59 Dano Some of my best friends are black.

    They want me here, among 2 dozen posters, many of whom are comically unreasonable?

    I'm here for my own entertainment, and my own entertainment is reading your posts. If I had my way I'd make sure that everyone at FedEx read your posts.
  14. MrFedEx

    MrFedEx Engorged Member

    Sure. Keep selling us on what a terrific Peak we had. Maybe Amazon will take us back.
  15. 59 Dano

    59 Dano Some of my best friends are black.

    Since I've yet to say we had a terrific peak, it would be hard for me to keep selling you on it.

    You're not very smart.
  16. DontThrowPackages

    DontThrowPackages Well-Known Member

    DANO59 is right. So much talk about when DRA hits we would be lucky to get 35 hours per week as a FT Employee. I can tell you DRA has in fact given our station more hours. Even on our early cut day, in the past we'd just do P1 and return to building with 3-4 hours if lucky, we're getting 9.5 hours. The system is filling up our rtes to the point its adding rtes. The extra rtes are being cut and force on the group because the PTers have to leave early or can't be trusted with anything other than going to a warehouse and picking up a bulker. At this rate, I'll have my car paid off sooner than expected and that will be, basically, a 5,000 dollar a year raise. I love it. :cool-very:
  17. MrFedEx

    MrFedEx Engorged Member

    DRA has been a cluster. Both R1a and myself predicted big hours cuts, but that was predicated on DRA working, which it hasn't. If DRA had worked the way they planned, it would have played-out exactly as predicted, but it's been a miserable failure. So, Dano is "right", but only by accident.
  18. D.R. Baggs

    D.R. Baggs New Member

    I just joined browncafe and found this post. Does UPS or whoever is handling our pension offer leveling at retirement? Just wondering
  19. ILuvPandas

    ILuvPandas New Member

    If you are a UPS driver your pension is wayy better than Fedex they are talking about Fedex pension

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  20. D.R. Baggs

    D.R. Baggs New Member

    Yep, sorry. I just realized I was in the FEDEX discussion.