So I decided to take a look at the FedEx pension site tonight retirement.fedex.com
What I noticed is that the "estimates" are really looking good until you start to drill down in them. First thing is the calculation that you will work 45 hours per week...REALLY??? how many of you average 45 hours per week?
Then I took a look at my current PPA amount 32k...OK so what if I retire in one year, what will the amount be? 45.8k yeh right...FedEx is going to put an additional 13.8 thousand into my PPA in a 12 month period? They must have the same engineer doing the math that comes up with the stem times for the RTD's
Even with their inflated numbers the monthly pension amount is between 1/3 to less than half of what my traditional pension plan will pay out and I was only part time for a majority of that plan for the same number of years, and I've been full-time for the entire life of the portable.
Man did we get hosed so hard!!!
What I noticed is that the "estimates" are really looking good until you start to drill down in them. First thing is the calculation that you will work 45 hours per week...REALLY??? how many of you average 45 hours per week?
Then I took a look at my current PPA amount 32k...OK so what if I retire in one year, what will the amount be? 45.8k yeh right...FedEx is going to put an additional 13.8 thousand into my PPA in a 12 month period? They must have the same engineer doing the math that comes up with the stem times for the RTD's
Even with their inflated numbers the monthly pension amount is between 1/3 to less than half of what my traditional pension plan will pay out and I was only part time for a majority of that plan for the same number of years, and I've been full-time for the entire life of the portable.
Man did we get hosed so hard!!!