Discussion in 'FedEx Discussions' started by Oldfart, May 14, 2018.
That is very surprising
Diffrent then the MetLife deal announced last week?
Soooo, what was the pension news today?
And what was that?
MetLife is taking over 41,000 Fedex retirees Pensions, Fedex paid 6 billion to get them off the books.
FedEx buying group annuity to cover pension benefits for 41,000 U.S. retirees, beneficiaries
I just found it.
Hoping they offer buy out for active employees at some point.
They’ve already offered retirees buyouts. I don’t trust Fedex on this or anything that’s supposedly good for us.
My manager who retired but wasn’t collecting Pension yet,Recieved a fair offer and took it. I’ll do the same,much rather manage the money myself.
Do you know what the formula was they used?
Old Fart, can you inform us of possible repercussions? I'm asking for you to put your thinking cap on.
Took pennies on the $ if it was like offers I saw. Maybe 10 years worth of payments. Everyone has choices to make when it comes to lump sum versus monthly payments. Just like lottery winners options.
What does it mean with X turning over it's pension liabilities to an insurance company? What could it mean? I'm asking a company kiss ass, sycophant. I await an answer.
These aren't spur of the moment decisions. You can bet the buyouts were done because this transfer to MetLife was already decided and the buyouts would save FedEx money. When they gave us that "choice" to voluntarily enter the PPP from the traditional they already had decided to end the traditional plan. Those who voluntarily left the traditional didn't get the extra 4% a year those who were forced to got. As you said, anytime FedEx is interested in "helping" us it's in their interest to do so, not ours.
They're free from administrative costs now.
You will be crying the same song in 15 years. Just like crying about a manager that did you wrong in 2001. Stay angry and bitter long?
No, they are free of liability. Would any FedEx employee rather have their pension tied to Fedex, the company they worked for, or an insurance company that has their hands in many other things. Fedex sold out their current pensioners and if the language of the deal is read, any current employee that is still working and has a defined benefit pension. Fedex made MetLife liable for our pensions, period.
Answer my question . I just helped you out in my last response to Van. Good thing you only needed enough sense to deliver a box and kiss ass.
I know nothing about the plan. I am not retired and haven't gotten the details. Have you?
Separate names with a comma.