Not wanting to give Old Fart a heart attack, but I'm about to say something very positive. As you know, we were placed in the Portable Pension Plan in 2008. For many older couriers it won't replace what they lost not getting a full traditional plan.
BUT, if you're starting out in your twenties, the new pay plan will have you topped out in your thirties. That gives you a lot of years at better pay to fund your 401k. That plus your portable pension plan will give you even more than the traditional pension did, assuming you contribute enough weekly for a long time.
You've got to resist dipping into your plan unless it's life or death or you've stumbled upon an incredible investment opportunity(a real one, not hype). You've got to understand that being a courier isn't a path to living the high life. If you spend all your money on a large mortgage, multiple high priced cars and trucks, all the latest gadgets, expensive clothes, etc you may end up working many years with little to show for it. Unless of course your spouse has a great paying job. Doesn't mean you can't be comfortable. But there will come a day when all you have is the portable pension and what you've invested. And hopefully Social Security. Start now, when you're young, and FedEx can be the vehicle that leads to a secure retirement.
BUT, if you're starting out in your twenties, the new pay plan will have you topped out in your thirties. That gives you a lot of years at better pay to fund your 401k. That plus your portable pension plan will give you even more than the traditional pension did, assuming you contribute enough weekly for a long time.
You've got to resist dipping into your plan unless it's life or death or you've stumbled upon an incredible investment opportunity(a real one, not hype). You've got to understand that being a courier isn't a path to living the high life. If you spend all your money on a large mortgage, multiple high priced cars and trucks, all the latest gadgets, expensive clothes, etc you may end up working many years with little to show for it. Unless of course your spouse has a great paying job. Doesn't mean you can't be comfortable. But there will come a day when all you have is the portable pension and what you've invested. And hopefully Social Security. Start now, when you're young, and FedEx can be the vehicle that leads to a secure retirement.