It's a grand tradition that Dems have perfected.
FedEx PPA Going Away
- Thread starter Preventable
- Start date
59 Dano
I just want to make friends!
Perjury in a sexual harassment trial. Dismiss it all you want.
LOL, no you didn't. You're lying out your rear end.
Your side was talking impeachment BEFORE HE WAS EVER SWORN IN.
LOL, it's so cute. You send some goof like Christine Blasey Ford to make a slew of uncorroborated accusations, you have so many instances of lefty mobs attacking people in MAGA gear that everyone lost count, you make imaginary claims of emoluments clause violations, you have Michael Avenatti as the Democrat candidate who can beat Trump, a Russian collusion investigation that turned up nothing, and so on and so on... but Trump's the messed up one!
And the cherry on top is "Give me the ultra religious guy and I won't complain." LOL!
MrFedEx
Engorged Member
Pence is infinitely more qualified to be president than Trump. For one, he actually appears to be sane. Avenatti is apparently just as much of a crook as Trump. Hope he rots in jail with Duncan Hunter.
59 Dano
I just want to make friends!
Translation: "Maybe he won't fight us as hard as Trump does."
Dubya? A nazi. Mitt Romney? Clean as a whistle and not too Republicany, and you guys torched him. John McCain? He was always the Republican that liberals fawned over, the one that they'd be able to vote for, and you guys ripped him one new one after another (but were quick to reconcile, as was he, after he wasn't a threat anymore).
Is anyone supposed to believe that things would be any different under Pence, who is more conservative and more religious than Trump? You earned President Donald J Trump. Deal with it.
I am FedEx
Well-Known Member
Can anyone give me the pros / cons of opting into the new plan vs staying in the ppa ?
Fred's Myth
Nonhyphenated American
If FedEx is recommending opting for the new plan, the smart move is to stay in the PPA.
Based on historical data.
MrFedEx
Engorged Member
Pence at least seems to be sane, although uber religious. No, we don't need to put up with Trump, so we're going to get rid of him.
He's a con man and a prolific liar. Your kind of guy.
Deal with it.
Operational needs
Virescit Vulnere Virtus
I concur.
59 Dano
I just want to make friends!
How?
McFeely
Huge Member
Quick summary for ya-
Currently, FX does this:
-3.5% matching to your 401k (if you put in 6%) and
-5% to your Portable Pension
If you switched to the 8% 401k match, you no longer get the PPA credit. Right of the bat you're going from 8.5% down to 8% company-provided.
What some/most don't know is that the PPA credits go from 5% all the way up to 8% as you age and have more years of service with the company. So if you're younger and don't have a lot of years with FX, you might be better off switching to the 8% match on the 401k. Also all depends on how comfortable you are with risk and future tax liabilities.
SmithBarney
Well-Known Member
Really depends on how much you have in your PPA, consult a financial advisor.
Cactus
Just telling it like it is
Whatever plan FedEx recommends, do the opposite.
I see you’re new here and welcome aboard.
Just so you know, anything the company does is in THIER best interest, not yours.
Also they give 1% interest each quarter of your PPA balance, so an extra 4% of your balance annually(slightly more with compounding). Doesn't sound like much but in your later years that's thousands more.
MrFedEx
Engorged Member
You lie about his lies, which are 100% provable. Where is your sense of truth and ethics?
MrFedEx
Engorged Member
Still defending them.
MrFedEx
Engorged Member
I don't think he'll be removed. At some point, he will resign when the evidence and continuous scandals dictate it.
There is more dirt and corruption unearthed every day. Eventually, your hero will be exposed as a total fraud and McConnell will cut him loose.
McFeely
Huge Member
True, but like I mentioned it all depends on how risk-averse you are. The PPA has a standard 4% growth, but a 401k can be much more (or less!) depending on market conditions. I think my 401k grew at 13% last year alone, but it's not guaranteed like the 4% growth.
MrFedEx
Engorged Member
The bottom line is that it is another takeaway that benefits FedEx, not employees. No matter what the percentage or match, the calculus is that FedEx benefits in the end, otherwise the PPA would have been retained.
Fred 101 is that any changes benefit the company and are of detriment to employees. The second part of this is that those changes are subject to modification and/or elimination at any time, again, so the company will save money at a future date by lowering the match or taking away something else.
The lack of any contractual liability allows FedEx to do whatever it wants, whenever it wants to. And, since FedEx is a prime takeover target right now, this could be setting you up for something even worse, and making Express look more appealing to a potential suitor.
Your best bet is just to leave, and find a company that provides good benefits.
Purplepackage
Well-Known Member
lol I love the “just leave and find a company with better benefits”
You know in many parts of this country express has better benefits than the other employment options. Some of my sons friends with bachelors and masters degrees are offered far worse than a 401k match and a 5% portable pension.
