No comments about the Pension news today

[Oldfart]

That is very surprising

 

[Spam]

Diffrent then the MetLife deal announced last week?

 

[Operational needs]

That is very surprising

Soooo, what was the pension news today?

 

[Operational needs]

Diffrent then the MetLife deal announced last week?

And what was that?

 

[Spam]

And what was that?

MetLife is taking over 41,000 Fedex retirees Pensions, Fedex paid 6 billion to get them off the books.

 

[Operational needs]

FedEx buying group annuity to cover pension benefits for 41,000 U.S. retirees, beneficiaries

I just found it.

 

[Spam]

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.

 

[Operational needs]

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.

 

[Spam]

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.

 

[Operational needs]

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?

 

[floridays]

Old Fart, can you inform us of possible repercussions? I'm asking for you to put your thinking cap on.

 

[Oldfart]

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.

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.

 

[Oldfart]

They’ve already offered retirees buyouts. I don’t trust Fedex on this or anything that’s supposedly good for us.

Predicted response.

 

[floridays]

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.

 

[vantexan]

They’ve already offered retirees buyouts. I don’t trust Fedex on this or anything that’s supposedly good for us.

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.

 

[vantexan]

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.

They're free from administrative costs now.

 

[Oldfart]

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.

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?

 

[floridays]

They're free from administrative costs now.

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.

 

[floridays]

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?

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.

 

[Oldfart]

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?