No comments about the Pension news today

Discussion in 'FedEx Discussions' started by Oldfart, May 14, 2018.

  1. Oldfart

    Oldfart Well-Known Member

    That is very surprising
     
  2. Spam

    Spam New Member

    Diffrent then the MetLife deal announced last week?
     
  3. Operational needs

    Operational needs Non desistas. Non exieras.

    Soooo, what was the pension news today?
     
  4. Operational needs

    Operational needs Non desistas. Non exieras.

    And what was that?
     
  5. Spam

    Spam New Member

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

    Operational needs Non desistas. Non exieras.

  7. Spam

    Spam New Member

  8. Operational needs

    Operational needs Non desistas. Non exieras.

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

    Spam New Member

    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.
     
  10. Operational needs

    Operational needs Non desistas. Non exieras.

    Do you know what the formula was they used?
     
  11. floridays

    floridays Well-Known Member

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

    Oldfart Well-Known Member

    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.
     
  13. Oldfart

    Oldfart Well-Known Member

    Predicted response.
     
  14. floridays

    floridays Well-Known Member

    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.
     
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  15. vantexan

    vantexan Well-Known Member

    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.
     
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  16. vantexan

    vantexan Well-Known Member

    They're free from administrative costs now.
     
  17. Oldfart

    Oldfart Well-Known Member

    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?
     
  18. floridays

    floridays Well-Known Member

    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.
     
  19. floridays

    floridays Well-Known Member

    Answer my question :censored2:. 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.
     
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    Lasted edited by : May 14, 2018
  20. Oldfart

    Oldfart Well-Known Member

    I know nothing about the plan. I am not retired and haven't gotten the details. Have you?