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FedEx Portable Pension Plan Sucks vs. UPS Plan
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<blockquote data-quote="DeputyDip" data-source="post: 287007" data-attributes="member: 13397"><p>Although not currently employeed at FedEx, I do have a few good friends throughout the FedEx Corp. A few at Express, a few at Freight. I agree, the PPP is a joke in comparison to past pensions. However, if you look around, it's going this way at a lot of corporations - not just FDX. You cannot count on <strong><u>ANY</u></strong> company to "take care of you". People need to take responsibility for their own retirement. That means not buying that new vehicle every couple of years, or not living in the biggest house on the block. A lot of retirement assets can be hatched in your 20's & 30's. Then, if the markets allows it, that nest egg will grow nicely over time. As far as unionizing FDX and it becoming a worthwhile career, who knows about FDX, UPS, or any major corporation these days. It's all about the all mighty $$$ and keeping the stock holders happy. If that means cutting costs at the expense of an expendable employee or their benefits, that's way it is going to roll. Sucks, but true. I still have 30+ years before "retirement age" comes knocking and wouldn't mind becoming a courier at Express. I threw a few boxes around there P/T in the past. It's what you want and make out of it. I believe it's a career that brings discipline, accountability, and instills a work ethic that isn't easily matched. In other words you can't merely exist from day to day, you actually have to work to keep your job. The days of working for a single employer for life and having them take care of you are gone no matter what career you choose.</p></blockquote><p></p>
[QUOTE="DeputyDip, post: 287007, member: 13397"] Although not currently employeed at FedEx, I do have a few good friends throughout the FedEx Corp. A few at Express, a few at Freight. I agree, the PPP is a joke in comparison to past pensions. However, if you look around, it's going this way at a lot of corporations - not just FDX. You cannot count on [B][U]ANY[/U][/B] company to "take care of you". People need to take responsibility for their own retirement. That means not buying that new vehicle every couple of years, or not living in the biggest house on the block. A lot of retirement assets can be hatched in your 20's & 30's. Then, if the markets allows it, that nest egg will grow nicely over time. As far as unionizing FDX and it becoming a worthwhile career, who knows about FDX, UPS, or any major corporation these days. It's all about the all mighty $$$ and keeping the stock holders happy. If that means cutting costs at the expense of an expendable employee or their benefits, that's way it is going to roll. Sucks, but true. I still have 30+ years before "retirement age" comes knocking and wouldn't mind becoming a courier at Express. I threw a few boxes around there P/T in the past. It's what you want and make out of it. I believe it's a career that brings discipline, accountability, and instills a work ethic that isn't easily matched. In other words you can't merely exist from day to day, you actually have to work to keep your job. The days of working for a single employer for life and having them take care of you are gone no matter what career you choose. [/QUOTE]
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