retirement

[NC man]

plan to retire in 2 yrs ,maybe sooner depending on how things go. Has anyone retired recently or planning to before age 65 and getting the retiree health plan account before medicare where fedex puts money into an account for ins premiums , at 62 I would get 22k to cover ins premiums and it says spouse gets money also (based on age) but does the spouse have to be covered by fedex ins now or doesn't matter? 22k would give me roughly 600 month for ins premium but of course still have deductibles etc depending on policy you get.

 

[falcon back]

plan to retire in 2 yrs ,maybe sooner depending on how things go. Has anyone retired recently or planning to before age 65 and getting the retiree health plan account before medicare where fedex puts money into an account for ins premiums , at 62 I would get 22k to cover ins premiums and it says spouse gets money also (based on age) but does the spouse have to be covered by fedex ins now or doesn't matter? 22k would give me roughly 600 month for ins premium but of course still have deductibles etc depending on policy you get.

Your spouse does not have to be covered to qualify for the payment. The retiree insurance is about $2250 a month as of today, very high. You can always jump on the Cobra plan for the 18 months FDX allows you to use it. That is about $950 a month right now. Then use the retiree insurance. Cobra and retiree amounts I listed include medical, dental, vision with the exact coverage you have as an employee with the same deductibles. You even get the reimbursement card that we have now for the 1st out of pocket expenses. The money Fedex gives you can't be used for Cobra and can't be used if you get medical coverage from another employer IF the premiums are taken out PRETAX, which most are. The retiree insurance premium is deducted by direct withdrawal from your checking account and approx. 2 weeks later, FDX will deposit that months reimbursement.

 

[NC man]

thought I would get a policy on the open market , checked some prices and the money fed gives would be adequate for premium ,deductibles vary based on policy you pick. 2250 is crazy high. Im assuming I can get a policy on the open market vs COBRA or the retiree ins. right? my portable pen would be 98k lump sum and reg pension 1100/month with 100% to spouse at my death shud I die first. The soc sec leveling option is about 2700 month at 62 but if I die it ends. Ins at 950 would eat up my reg pension almost!

 

[NC man]

thx for info ,did not know about the 2250 retiree ins which is crazy high.

 

[falcon back]

I looked at open market plans. The premiums were several hundred $ cheaper than the $2250 but all I found had crazy high deductibles. Some were 8k per person. The Cobra sounds high but compared to what I found on the open market, it's pretty reasonable. It all sucks and is the main stumbling block for most considering retirement. People can defend the Affordable Care all they want but my self employed friends who buy their own insurance confirm that until it was passed, open market insurance was high, but nothing compared to what it cost after the law was passed.

On a side note. If at all possible, you might consider delay drawing your Traditional and Portable money for as long as you can. For every year you delay drawing your Traditional, your payment will go up 10% and your Portable will continue to get 4% return. You just have to have other means to live on while waiting to start drawing your pensions. Once you start drawing 1 pension, you must start drawing both.

 

[bacha29]

Your spouse does not have to be covered to qualify for the payment. The retiree insurance is about $2250 a month as of today, very high. You can always jump on the Cobra plan for the 18 months FDX allows you to use it. That is about $950 a month right now. Then use the retiree insurance. Cobra and retiree amounts I listed include medical, dental, vision with the exact coverage you have as an employee with the same deductibles. You even get the reimbursement card that we have now for the 1st out of pocket expenses. The money Fedex gives you can't be used for Cobra and can't be used if you get medical coverage from another employer IF the premiums are taken out PRETAX, which most are. The retiree insurance premium is deducted by direct withdrawal from your checking account and approx. 2 weeks later, FDX will deposit that months reimbursement.

Are you an investment advisor?......No......Are you a financial planner?......No......Are you a benefits manager?....No. Therefore, you simply cannot offer even ONE credible reason why anybody in their right mind would listen to even a single word of "advice" from a completely and totally unqualified IDIOT such as you.

You're just a dumb old truck driver as well. Therefore given that I have been ordered not to dispense any similar information. an order coming from you personally it therefore proves conclusively that not only are you an idiot you're a fool and a hypocrite in the first degree.

 

[falcon back]

Are you an investment advisor?......No......Are you a financial planner?......No......Are you a benefits manager?....No. Therefore, you simply cannot offer even ONE credible reason why anybody in their right mind would listen to even a single word of "advice" from a completely and totally unqualified IDIOT such as you.

You're just a dumb old truck driver as well. Therefore given that I have been ordered not to dispense any similar information. an order coming from you personally it therefore proves conclusively that not only are you an idiot you're a fool and a hypocrite in the first degree.

Big difference, my post stated FACTS. If you were an Express employee, you could verify my facts. I didn't give advice, just stated facts that are there for every employee to see on retirement.fedex.com.

Keep trying you hack. Keep looking at your fictional stock tips and I will continue to read the fedex retirement policy that is fact, not fiction.

 

[bacha29]

Big difference, my post stated FACTS. If you were an Express employee, you could verify my facts. I didn't give advice, just stated facts that are there for every employee to see on retirement.fedex.com.

Keep trying you hack. Keep looking at your fictional stock tips and I will continue to read the fedex retirement policy that is fact, not fiction.

So your posts are the ONLY facts? Hahahahaha! So you can read the handbook? Impressive!. So tell me, just what makes you QUALIFIED to offer an interpretation and assessment of the terms set forth in the handbook that is on a higher level than that offered by any ordinary truck driver?........Obviously you don't like being called out on the very same basis you use to call out others? Too bad. they are nevertheless YOUR standards.

 

[falcon back]

So your posts are the ONLY facts? Hahahahaha! So you can read the handbook? Impressive!. So tell me, just what makes you QUALIFIED to offer an interpretation and assessment of the terms set forth in the handbook that is on a higher level than that offered by any ordinary truck driver?........Obviously you don't like being called out on the very same basis you use to call out others? Too bad. they are nevertheless YOUR standards.

Unlike you, I can read numbers and understand what they mean. You ,on the other hand, need a person to read to you and explain what they are saying. Get your friend that told you about the fictional part time courier job to sign on to the website and he can read and explain it to you. I know facts scare you but the website is there to confirm everything I posted.

 

[bacha29]

Unlike you, I can read numbers and understand what they mean. You ,on the other hand, need a person to read to you and explain what they are saying. Get your friend that told you about the fictional part time courier job to sign on to the website and he can read and explain it to you. I know facts scare you but the website is there to confirm everything I posted.

Right. Anybody with basic literacy skills can read the handbook but when you provided your own interpretation and analysis it was strictly a ordinary truck drivers level of understanding. A similar and equal level of understanding of dissimilar matters for which you roundly criticized me for. If my level of understanding isn't qualified in your opinion then what in your opinion makes yours qualified ? The two are exactly the same.

 

[falcon back]

Right. Anybody with basic literacy skills can read the handbook but when you provided your own interpretation and analysis it was strictly a ordinary truck drivers level of understanding. A similar and equal level of understanding of dissimilar matters for which you roundly criticized me for. If my level of understanding isn't qualified in your opinion then what in your opinion makes yours qualified ? The two are exactly the same.

Lol
You are one wacked out fella. Just in case nobody ever told you that before. Have a nice day

 

[bacha29]

Lol
You are one wacked out fella. Just in case nobody ever told you that before. Have a nice day

Same Old Falcon Fart. Every time that you don't have an insightful and informed counter point you launch into a personal attack. As long as you don't mind me taking your own words making you eat them along with exposing your own hypocrisy I will continue to do so and enjoy every minute of it.

 

[NC man]

I looked at open market plans. The premiums were several hundred $ cheaper than the $2250 but all I found had crazy high deductibles. Some were 8k per person. The Cobra sounds high but compared to what I found on the open market, it's pretty reasonable. It all sucks and is the main stumbling block for most considering retirement. People can defend the Affordable Care all they want but my self employed friends who buy their own insurance confirm that until it was passed, open market insurance was high, but nothing compared to what it cost after the law was passed.

On a side note. If at all possible, you might consider delay drawing your Traditional and Portable money for as long as you can. For every year you delay drawing your Traditional, your payment will go up 10% and your Portable will continue to get 4% return. You just have to have other means to live on while waiting to start drawing your pensions. Once you start drawing 1 pension, you must start drawing both.

The traditional was frozen when ppa started, no? So my traditional is set in stone so to speak or so I thought. I know ppa grows each yr with credits . I need to call retirement dept . Agree on the ACA, I checked couple yrs ago just out of curiosity, to see what ins would be if had to pay myself and most policies were well over 1k month with high deduct, no subsidy due to income of me and the wife. Definitely not affordable for all.

 

[falcon back]

The traditional was frozen when ppa started, no? So my traditional is set in stone so to speak or so I thought. I know ppa grows each yr with credits . I need to call retirement dept . Agree on the ACA, I checked couple yrs ago just out of curiosity, to see what ins would be if had to pay myself and most policies were well over 1k month with high deduct, no subsidy due to income of me and the wife. Definitely not affordable for all.

The Traditional was frozen when you entered the Portable, BUT you receive an extra amount if you retire and delay drawing your 2 pensions. Go to retirement.fedex.com and go to "Project Your Pension" link. There is a table that allows you to put in various dates to retire and various dates to begin drawing the pensions. If you retire today and draw tomorrow, your pension will be the amount you have been told all these years. If you retire today and begin your pension in 12 months, your Traditional will be 10% more, your Portable 4% more. Wait 2 years, Traditional will be 20% more and Portable 8% more. On and on. Just like Social Security grows by 8% every year you delay drawing it, your Traditional does the same thing.

 

[vantexan]

The Traditional was frozen when you entered the Portable, BUT you receive an extra amount if you retire and delay drawing your 2 pensions. Go to retirement.fedex.com and go to "Project Your Pension" link. There is a table that allows you to put in various dates to retire and various dates to begin drawing the pensions. If you retire today and draw tomorrow, your pension will be the amount you have been told all these years. If you retire today and begin your pension in 12 months, your Traditional will be 10% more, your Portable 4% more. Wait 2 years, Traditional will be 20% more and Portable 8% more. On and on. Just like Social Security grows by 8% every year you delay drawing it, your Traditional does the same thing.

Not true on the traditional. The max you can get is at age 60. The earliest you can take it is at 55. Each year you take it earlier than 60 reduces it 3%. If you retire at 60 and choose to delay until 61, which I don't think is possible, you lose a year's worth of payments. The only legitimate reason for delaying past 60 is if you're still working. But if you were going to get $25k at 60 that's what you'll get at 67 if you work until full SS retirement age.

 

[NC man]

Ok, Been there but thought once you retire they start the Traditional and ask how you want ppa, lump sum or monthly , wasn’t aware you could delay

 

[vantexan]

Ok, Been there but thought once you retire they start the Traditional and ask how you want ppa, lump sum or monthly , wasn’t aware you could delay

They do, but again it you continue to work past 60 you will only get what you would have gotten at 60 when you retire.

 

[vantexan]

They do, but again it you continue to work past 60 you will only get what you would have gotten at 60 when you retire.

And if you're healthy I would never consider the lump sum option. Didn't have that option when I retired 3.5 years ago.

 

[falcon back]

Ok, Been there but thought once you retire they start the Traditional and ask how you want ppa, lump sum or monthly , wasn’t aware you could delay

You can delay drawing your pension after you retire. Use the table and insert retiring at age 60 or any date you want. Use the next line down to insert any date or age you want to "Commence" drawing the pension. Each year you delay drawing or "Commencing" your pension, your Traditional grows by roughly 10%.

If you continue to work past 60 and draw your pension right after you retire, no increase. If you retire at 60 or ANY age past 55 and delay drawing, 10% growth per year.

 

[vantexan]

You can delay drawing your pension after you retire. Use the table and insert retiring at age 60 or any date you want. Use the next line down to insert any date or age you want to "Commence" drawing the pension. Each year you delay drawing or "Commencing" your pension, your Traditional grows by roughly 10%.

I would check with FedEx benefits office about that. You're literally saying if you are to get $30k at 60 FedEx will give you $33k if you wait a year. They've never been that generous and it certainly wasn't in my retirement paperwork.