Retirement information meeting

[bacha29]

My district is holding a Retirement Information Meeting next month to give attendees information on retiring. This is the first I've ever heard of such a thing. Have any of you had something like this in your district?

It's quite clear that they want rid of you old guys so they can bring in some clueless kid for $ 9.50 an hour. Keep in mind what they do over at Ground. When I left a former manager called to congratulate me on what he kept referring to as "retirement". . P*#sed off I said "how can you call this retirement. Unlike yourself, there's no 401K or defined benefit pension plan waiting for me at trails end.You know this as well as anybody. Contractors are not retired they're disposed of"......Silence

 

[SmithBarney]

Offering a buyout to old timers...people who refuse to retire.

 

[Operational needs]

Offering a buyout to old timers...people who refuse to retire.

If they make it worth my while, I'll take it.

 

[!Retired!]

It was mandatory for us to attend a few years ago and I thought it was silly for me to attend since I'm a long ways away from retirement. However, it was actually beneficial and had some good info. The HR retirement lady really knew her stuff and could answer any question. If you are close to retirement in the next 5 years or so I would suggest attending. It's not the usual FX blow smoke meeting. It's not a sales pitch, just some good info.

Good thing you went. I'm trying to get my stepkids (18 + 16YO) to understand you don't wait until it's to late to save for retirement.

I know you do.
I've been putting in 6% for a long time. I've had to make some withdrawals though.

I took out some money to buy my first townhome. Just try to up your contribution to replace it, if you can.

 

[dezguy]

We had one a couple years back. Turned out to be a sales pitch from our benefits provider to sell post retirement benefits to those who were close to retirement. It was such an amazing deal! They were willing to sell former FedEx employees, benefits at the regular rate, no discount at all.

Was funny when one of our old guys asked the presenter why she was wasting our time. If we wanted crappy benefits at full price, we could just call.

 

[Operational needs]

We had one a couple years back. Turned out to be a sales pitch from our benefits provider to sell post retirement benefits to those who were close to retirement. It was such an amazing deal! They were willing to sell former FedEx employees, benefits at the regular rate, no discount at all.

Was funny when one of our old guys asked the presenter why she was wasting our time. If we wanted crappy benefits at full price, we could just call.

I'll be pissed if that's what it turns out to be. And I'll be very vocal about it.

 

[dezguy]

I'll be if that's what it turns out to be. And I'll be very vocal about it.

Trust me, no one was happy about being there once we found out what it was all about. Had I not been clocked in, I would have walked out but, since they were paying me, I stuck around for the fireworks. Sometimes it's just worth it to suffer through these pointless meetings, for the comments.

 

[McFeely]

Hell, I'd go if we were on the clock. Like I said earlier, our meeting for my district is 50 minutes away from my house (even further from the station) and on a Saturday.

 

[Operational needs]

Trust me, no one was happy about being there once we found out what it was all about. Had I not been clocked in, I would have walked out but, since they were paying me, I stuck around for the fireworks. Sometimes it's just worth it to suffer through these pointless meetings, for the comments.

They paid you? That's different. They can say whatever they want if I'm being paid. I've gotten good at zoning out. Lol.

 

[Operational needs]

Hell, I'd go if we were on the clock. Like I said earlier, our meeting for my district is 50 minutes away from my house (even further from the station) and on a Saturday.

I have a feeling ours will be off the clock. It's on a Saturday also.

 

[dezguy]

They paid you? That's different. They can say whatever they want if I'm being paid. I've gotten good at zoning out. Lol.

If I'm not being paid, I'm not going. I don't give any of my time to FedEx for free.

 

[Operational needs]

If I'm not being paid, I'm not going. I don't give any of my time to FedEx for free.

That's my motto also, however, this time it's to MY benefit, so I'll go. I haven't looked into retirement at all, so hopefully I can learn what I need to know there.

 

[Serf]

When I cashed out my portable pension in 2013 my mgr assured me they'd have my money to me in about 3 weeks. Turned out to be 3 months. Getting this kind of info to couriers can only do good.

90 days to get a check that amounts to enough to maybe buy a new Toyota Camry? Surely you are kidding. The book says 30 days from your day of retirement and or termination.

 

[Operational needs]

90 days to get a check that amounts to enough to maybe buy a new Toyota Camry? Surely you are kidding. The book says 30 days from your day of retirement and or termination.

You've been around long enough to know FedEx does what they want.

 

[MrFedEx]

It's quite clear that they want rid of you old guys so they can bring in some clueless kid for $ 9.50 an hour. Keep in mind what they do over at Ground. When I left a former manager called to congratulate me on what he kept referring to as "retirement". . P*#sed off I said "how can you call this retirement. Unlike yourself, there's no 401K or defined benefit pension plan waiting for me at trails end.You know this as well as anybody. Contractors are not retired they're disposed of"......Silence

A clear effort to encourage senior employees to head out the door. Problem is, our "retirement plan" is so poor that most people need to keep working, so good luck on another failed management strategy.

 

[Serf]

A clear effort to encourage senior employees to head out the door. Problem is, our "retirement plan" is so poor that most people need to keep working, so good luck on another failed management strategy.

Agree. Our management has already asked our top senior guys to drop down to part time. Almost all of them told them to kick rocks, except for 2 guys who have wives that earn more than them. They than break up the full time routes and give them to new hires who can barley walk and chew gum at the same time.

 

[bacha29]

Agree. Our management has already asked our top senior guys to drop down to part time. Almost all of them told them to kick rocks, except for 2 guys who have wives that earn more than them. They than break up the full time routes and give them to new hires who can barley walk and chew gum at the same time.

Clearly going in the direction that was discussed earlier. Converting to part time drivers then give them the opportunity to
" upgrade" to contractor status. No full time employee especially one that is or nearly topped would in their right mind convert to contractor but a part timer? Now a part timer that would be much easier to convince to take the deal because many of the newbies would wrongly believe that going contractor would be the equivalent to full time wage employment.

 

[whenIgetthere]

My district is holding a Retirement Information Meeting next month to give attendees information on retiring. This is the first I've ever heard of such a thing. Have any of you had something like this in your district?

They're there to let us know which brands of dog food will take our porta potty pension the furthest!

 

[whenIgetthere]

You should always contribute up to the match, if possible. It is free money.

I put 12% in the 401k. With our pension (and 35 hours/week), it doesn't amount to much, and won't go far. Glad I have 401k's from two other jobs combined and invested, as well.

 

[UpstateNYUPSer(Ret)]

I put 12% in the 401k. With our pension (and 35 hours/week), it doesn't amount to much, and won't go far. Glad I have 401k's from two other jobs combined and invested, as well.

Is your plan to roll them all over in to one IRA or other investment option?