How Will You Ever Retire From Fed Ex?

Discussion in 'FedEx Discussions' started by MrFedEx, Dec 15, 2009.

  1. MrFedEx

    MrFedEx Engorged Member

    Unless you're a long-term employee who had many years under the traditional retirement plan, just how are you ever going to retire from your FedEx "career"? Whether you're 41 with 10 years invested in this company, or 21 and just starting out, you both face the same issue.

    I'm continually amazed by people in their 20's and 30's who never think they will get old and retire someday. Under the old plan, at least you had a steady stream of guaranteed income that would allow a livable retirement. Under the PPP, it's almost totally up to you to provide that income, and how are you going to do it with the puny 401k match, tiny portable payout, and wages that have never kept pace with the cost of living? The easy answer is that you probably won't do it, and that when you hit your late 40's or 50's it will be too late to ever catch-up. Your paycheck to paycheck wage scale almost ensures you won't be able to save or invest enough to pull it off.

    For the haters, I've already maxed-out under the old plan with 25 years, so I'm not thinking about me. I see all the 35 year-olds out there who have 7 or 8 years at FedEx who are looking at a 16% payout from the traditional plan and the embarassment that is the PPP when they "retire" someday and I wonder what the heck is wrong with them as they continue "believing" the Purple Promise and PSP.

    Here's the reality. You don't mean squat to FedEx and you're being used-up as quickly as possible until the next sucker takes your place. When will you ever get it? Unless you stand-up for yourselves now, you will have nothing in the future, and that's exactly the way FedEx wants it. All of those execs and pilots are set for life when they hang it up, and they will have done it off of your sweat and sacrifice. You essentially get nothing, and they will be laughing all the way to the bank. And people wonder why I hate FedEx so much.

    Please stop being stupid and see the reality of your situation. I'm sure some of you Free Market types are "sure" your 401k and other investments will see you through, but even your rugged individualism and Horatio Alger spirit won't be a viable substitute for a true retirement.
  2. bbsam

    bbsam Moderator Staff Member


    I have over the last few months come to respect your opinion after sifting through some of the anger and vitriol. I wonder, however, if you are not living in a time gone by. I am 41 yrs old and have no intention of retiring completely--ever. One day 20 yrs from now when the kids are grown up and on their own I think I might do some work for Fedex custom critical. I think this is what financial planners are telling people these days: Think about what you would like to do in your retirement carreer. At age 70. It has become part of the equation. Retirement isn't what it used to be and I doubt it will go back to it. Believe me though, some days I feel like I'm in semi-retirement already and it's not always all it's cracked up to be.:peaceful:
  3. brownrod

    brownrod Active Member

    An express driver in my area just retired. I think she had 25 years in. And she wasn't even very old! She looked like she was in her early/mid 40's. (of course it's not uncommon for a 50 something year old delivery driver to look 10 years younger)

    She must have saved/invested or something. Or have a husband with a nice job. I didn't know Fedex drivers had any sort of decent retirement.
  4. MrFedEx

    MrFedEx Engorged Member

    A 25 year FedEx driver (like me) gets approximately one half the amount a Teamster UPS driver receives, and the only reason I get that is because I topped-out under the old plan, which ended in 2008. The driver you are referring to probably has something else going on like you mentioned. New people are beyond screwed under the current PPP plan.


    And I'm one of the lucky limbo players...just enough time for the vacation to be too much to give up, but I know I'll be working here until the day the knees, ankles, back or heart give out.

    On the upside, instead of a decent raise, I got a dandy little "FedEx Game Ball" for all I do for my station.

    At least the wife and I have something to play with when I get to semi-reitre or recover from one of the knee surgeries that I know are coming!

  6. brownmonster

    brownmonster Man of Great Wisdom

    It's amazing all of the things that are slowly being taken away from employees as the country become less unionized. One company gets away with it and they all jump on the bandwagon. First it was paying for healthcare, then replacing pensions with 401K's. What's next, no paid vacations, overtime pay, workmans comp. Wake up American worker!
  7. MrFedEx

    MrFedEx Engorged Member

  8. Mr Fedex

    Mr Fedex Banned

    So you were supposed to retire MFE from FedEx 3 years ago but you are still in the company?Again,I ask.What happened? Why do you not answer these questions?
  9. thedownhillEXPRESS

    thedownhillEXPRESS Well-Known Member

    shill alert shill alert
  10. DorkHead

    DorkHead Active Member

  11. Mr Fedex

    Mr Fedex Banned

  12. whenIgetthere

    whenIgetthere Well-Known Member

    A customer mentioned to me today that her Ground driver told her he hasn't had a vacation in three and a half years. She asked why, he told her that his boss (contractor) doesn't give any benefits! She didn't realize we're not the same company.
  13. Mr Fedex

    Mr Fedex Banned

    No one does.That's exactly what Fred wants.MUAHAHAHAHAHA!
  14. Nick9075

    Nick9075 Member

    I would imagine that the husband has a nice job or a generous pension. Or maybe she inherited $$$$ at the right time. who knows..

    Also, I am 37 and single with no kids.. Makes financial planning much easier.