Pensions
- Thread starter NC man
- Start date
Stat41
Well-Known Member
Are you an adult sir? You seem to enjoy attacking people you don't even know instead of participating in a mature conversation. If I had a twelve year old acting like you on the internet, I would take away his computer privileges. You seem to be a really intellegent guy and I would seriously like hear what the real you, the you your wife and children know, has to say.
He got in early enough that he was topped out for most of his time at FedEx plus he was able to get a full traditional pension. For some reason he feels that makes him superior to those who didn't get paid nearly as much and had their pensions cut short. And he loves to lord that over us.
Serf
Well-Known Member
Thanks for input.
fedx
Extra Large Package
The 8% 401K match could change to 6% or lower in just a few years. Get everyone out of the pension into the 401K under the guise of 8% match, then change it down the road due to 'business needs'. Bait and switch isn't all that uncommon. Unless FedEx had it in writing guaranteeing you 8% match indefinitely, I wouldn't do it.
That's what happened when they switched us over from the traditional to the PPP. Got people to voluntarily switch over. About a year later they forced the rest of us over but gave us 4 extra percentage points a year in contributions for 5 years to make up for us being forced into it. Those who voluntarily went into the new plan didn't get the extra 4%. For a topped out courier that meant around $12k lost over 5 years to their retirement account.
MassWineGuy
Well-Known Member
Extremely important point.
McFeely
Huge Member
To be fair, the company could take away the 401k match OR the pension contributions at any point. Same goes for any perk/benefit that isn’t required by the government or employment contract.
I think I’m still leaning towards the PPA offering at the time because my amount is set to go up based on my age/YOS pretty soon. I already have a huge chunk going to my 401 and I have a Roth IRA in addition to those.
I think I’m still leaning towards the PPA offering at the time because my amount is set to go up based on my age/YOS pretty soon. I already have a huge chunk going to my 401 and I have a Roth IRA in addition to those.
Working4the1%
Well-Known Member
I wish I got in when Falcon did..I was 7. Since I didn’t Falcon thinks I’m an idiot for not dropping out of 3rd grade and making something of myself
falcon back
Well-Known Member
You got in early, quit, came back, quit and now you live in your car or in a tent. You are a financial wiz. You ruined your chances of a happy retirement and hate anyone that made the sacrifices that it takes to live a comfortable life when they retired.
I live in what is pretty much a studio apartment, minus the kitchen, for about $150 a month in Mexico. Includes electric, a private bathroom, private entrance with my own keys to apartment and gate, and excellent wifi in a very secure family compound. About everything needed is in easy walking distance. I eat out once a day, do intermittent fasting, have lost 20 lbs in 10 weeks. Saw a movie in English in a very nice theater yesterday. Should have done this last year. And I planned to live overseas all along, but Covid kept me from going to where I really wanted to be, Argentina. But this beats getting cricks in your neck watching NASCAR races!
Stat41
Well-Known Member
Good for you for working the plan and the weight loss! I need to drop about 10 pounds myself but Im having to work so much because of this RESONSE mess Im not able to focus as much on diet and dont have time to properly exercise other than humping up driveways. I'm sure there are many others here in the same boat.
falcon back
Well-Known Member
How does that payout bonus work? Is that on top of the monthly pension payment? Is the bonus due to a positive return on the pensions investments?
1989
Well-Known Member
Accrual rate (monthly payout) went from 1.2% of annual contributions to 1.5% in 2020 and 1.6% for 21, 22, 23.
Cactus
Just telling it like it is
Good for you! Sounds like you're going in a good direction.
@falcon back on the other hand always brags about his fabulous lifestyle and the truth be told, he's most likely working a crappy job cleaning the Slurpee machine after having been fired from FedEx, surviving on generic 'Nilla Wafers since his imaginary winning scratch off lottery ticket has no value in the real world. His once "sweet deal" of doing 3 FO shifts a week never existed except in his own pathetic little mind.
True, when you're running very long hours it's too easy to eat the wrong things. Grab fast food and go.
falcon back
Well-Known Member
Just because your retirement plan didn't pan out, don't hate of others who made the leap to a properly planned retirement. You and Tex pissed away a good chance to retire and enjoy life with the family. Instead, he is alone in a foreign country and you are stuck here without the means to enjoy the best time of your life.
Amigo(in keeping with living in Mexico), if I were living in a luxury penthouse apartment with gold plated plumbing you'd try to put it down. The only person on here who's miserable and trying to spread misery is you. I realized a long time ago no matter how much I volunteered for OT FedEx was never going to pay me enough to finance a decent retirement. So I looked for alternatives. The fact is these days if you've got good internet you can live about anywhere. I watch American tv on my tablet. It's an HD picture and with headphones the sound is excellent. I eat at good restaurants locally including an Italian restaurant just down the street. I go to a Chinese buffet that only costs $5 plus however many sodas I buy at a dollar each. Usually two. There's a great little laundry across from where I live. They wash two weeks worth of clothes for just under $7. Professionally fold and bag them too. All I have to do is walk the clothes a few steps over to them and pick up the next day. There's the Mexican equivalent of Wal-Mart, Chedraui, two blocks away with about anything I need. A taxi stand up front where I can grab one to about anywhere in town for $3 to the few places I don't care to walk. 1.5 miles to a new, very modern theater where I've already seen 4 movies in English. Most people here are very pleasant. I see quite a few Americans, usually in their 20's and 30's, in the Centro area on the sidewalk who will look the other way, won't make eye contact. But the locals on the other hand if you smile and say buenos tardes, good afternoon, even with masks on they light up and return the greeting. They really appreciate the effort made. If they think you need assistance will immediately try to help. Great people down here. Don't run across anyone trying to sneer at everything you do. Enjoy your retirement, I'm enjoying mine!
falcon back
Well-Known Member
Living in Mexico has to be better than sleeping in your car. Or is it.
