Pension Security

vantexan

Well-Known Member
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.
 

dezguy

Well-Known Member
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Meat

Well-Known Member
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.

Let me get this straight; YOU'RE the one counseling young people on how to save for retirement - ABSURD!!!!!!!!!
 

vantexan

Well-Known Member
ANYBODY can say "eat less, exercise more," but only the people that walk-the-walk should be taken seriously (meaning this guy).
So it was bad info? If it's true doesn't matter what the source. By the way, when FedEx announced in early 2007 that they were going to terminate pension plan in 2008 I immediately worked as much OT I could get my hands on. I always worked what I could, but I went further with this. I offered as a 4X10 to allow them to switch me to a 5X8(like they used to do every Peak) so that they could work me 6 days a week without having to pay double time. Resulted in my best paid year and close to a thousand dollars a year extra on my traditional pension. I did what I could with what I had to work with.
 

Meat

Well-Known Member
So it was bad info? If it's true doesn't matter what the source. By the way, when FedEx announced in early 2007 that they were going to terminate pension plan in 2008 I immediately worked as much OT I could get my hands on. I always worked what I could, but I went further with this. I offered as a 4X10 to allow them to switch me to a 5X8(like they used to do every Peak) so that they could work me 6 days a week without having to pay double time. Resulted in my best paid year and close to a thousand dollars a year extra on my traditional pension. I did what I could with what I had to work with.

Van, for the most part, OF is a tool; but he has a point every once in awhile. You really need to put X in the rear-view-mirror. Only when do so, will you be fully able to enjoy the opportunity you have now.
 

Schweddy

Balls
He's been on here since 2009. Just because someone retires or leaves the company doesn't mean they need to burn every bridge ever related to "x"

Nobody spends their time perfectly, neither according to them or an outsider. The same can be said of anyone here.
 

Oldfart

Well-Known Member
Van, for the most part, OF is a tool; but he has a point every once in awhile. You really need to put X in the rear-view-mirror. Only when do so, will you be fully able to enjoy the opportunity you have now.
Thanks for the compliment. At least I work here. Still can't figure out why you and the UPS fella hang out here. I stumbled upon a USPS forum page looking for a Post Office, I would never spend time on a work related forum if I didn't work there. I glanced at the UPS section a time or 2 just to see what was being discussed. I saw people from here joining their conversation. Seems odd to me.
 

Schweddy

Balls
To teach and delight.

You teaching oldfart to ignore everyone would be a delight (ful solution)...

You want to criticize every aspect of Van's personal life, but you don't offer real perspectives. What gives? You're all about problems and not about solutions.
 

MAKAVELI

Well-Known Member
You teaching oldfart to ignore everyone would be a delight (ful solution)...

You want to criticize every aspect of Van's personal life, but you don't offer real perspectives. What gives? You're all about problems and not about solutions.
Sounds like a FedEx manager to me.
 

Serf

Well-Known Member
We used to have MrFedEX AND Dano go at it. It's come full circle. Seems like it's old fart vs. the field. It's sound advice van.
 

Operational needs

Virescit Vulnere Virtus
I glanced at the UPS section a time or 2 just to see what was being discussed. I saw people from here joining their conversation. Seems odd to me.
Unlike you, some of us don't live with our head in the sand. We are interested in how the other half do their jobs. My interest has led me to making friends with some of the UPSers. Plus, it's miserable in the FedEx threads most of the times because of the constant bickering. That's why you see me there.
 

Oldfart

Well-Known Member
Unlike you, some of us don't live with our head in the sand. We are interested in how the other half do their jobs. My interest has led me to making friends with some of the UPSers. Plus, it's miserable in the FedEx threads most of the times because of the constant bickering. That's why you see me there.
Do you get on the USPS forums and discuss their job? How bout finding a Teamster forum and worry about how the guys at Averett are getting done by their management?

Because I don't worry about things that don't affect me, you consider that living with my head in the sand? Maybe you are just a person that likes to stick their nose in other people's business. That is another way of looking at it. Do you go door to door in your neighborhood discussing your neighbor's problems? I concentrate my time and thoughts on matters that pertain to me and my family, I guess you consider that having my head in the sand.
 
Do you get on the USPS forums and discuss their job? How bout finding a Teamster forum and worry about how the guys at Averett are getting done by their management?

Because I don't worry about things that don't affect me, you consider that living with my head in the sand? Maybe you are just a person that likes to stick their nose in other people's business. That is another way of looking at it. Do you go door to door in your neighborhood discussing your neighbor's problems? I concentrate my time and thoughts on matters that pertain to me and my family, I guess you consider that having my head in the sand.
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