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FedEx PPA Going Away
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<blockquote data-quote="vantexan" data-source="post: 4269465" data-attributes="member: 24302"><p>A part-timer who's making say $20k a year probably won't be able to contribute much into his 401k. But let's say a 50 year has $100k in his portable. I don't know what current percentages are but if it's 8% that's $8k plus a little over $4k in interest from the 1% per quarter. Remember also that the company was also matching what was it, a dollar for each $2 of the first 3.5% you saved in your 401k? I've been gone 2.5 years so don't remember exact amounts, but seems to me a bump up to 8% won't come close to what you were getting. Remember the PPA is completely company paid, but you'll have to come up with up to 8% of your own money to get the match also. I'm betting the company will save at least half, probably more, of what it was shelling out.</p></blockquote><p></p>
[QUOTE="vantexan, post: 4269465, member: 24302"] A part-timer who's making say $20k a year probably won't be able to contribute much into his 401k. But let's say a 50 year has $100k in his portable. I don't know what current percentages are but if it's 8% that's $8k plus a little over $4k in interest from the 1% per quarter. Remember also that the company was also matching what was it, a dollar for each $2 of the first 3.5% you saved in your 401k? I've been gone 2.5 years so don't remember exact amounts, but seems to me a bump up to 8% won't come close to what you were getting. Remember the PPA is completely company paid, but you'll have to come up with up to 8% of your own money to get the match also. I'm betting the company will save at least half, probably more, of what it was shelling out. [/QUOTE]
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