Yea just wish it was that easy to get 10-12hrs daily at express I'd love it. My OT is my day off, I'll get 8hrs of OT but I rather get that during my normal work week. I was talking to a UPS driver last night he was telling me 35yrs in those guys are retiring getting 5400 a month. I was thinking omg I'm totally at the wrong place lol. I wonder what our pay out would be? Are we about the same 35yrs with the company and we can retire? Sorry for all the questions I'm just looking for what's best for me. Thanks again
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Oldfart
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I believe 5400 a month pension is a little on the high side for a UPS Pension. Depending on where they live, many UPS pensions are on the verge of drastic cuts because of the pension plan is having problems.
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How long have you been at FedEx? I’m guessing not long. Regardless, when you finally retire, your pension will be nowhere close to the UPS guy’s pension.
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At FedEx, retirement is based on age, not years of service.
Oldfart
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Wrong. Age, years, salary all come into play with Portable Pension. You better stick to taking power pad pictures. Lol
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And how about you stick to hanging out with the inbred and toothless watching the cars go round in circles.
Oldfart
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Once again, you prove you have no idea how the pension works. Age and years determine the % of your salary they deposit. Bummer
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I was talking about the Traditional Pension, Earl. I don’t know enough about the PP to even talk about it other than to say it doesn’t compare to the TP.
Oldfart
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Traditional enrollment ended 12 or 13 years ago. Once again age was NOT the only criteria. Salary and years and age all came into play. You are wrong even when you think you are right. Bummer
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Years of service and salary do NOT determine when you’re eligible for retirement at FedEx, Earl.
Oldfart
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It DOES determine amount. The fella was talking about UPS getting 5400. He never mentioned age. You just cant win.
I've been with fedex for 4 years so far. That sounded high but that's also in New Jersey cost living is bit high.
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I’m aware he didn’t mention age, Earl. Again your reading comprehension fails you. He asked if FedEx was like UPS where you work 35 and you’re out. I told him that it’s not based on years of service but age. You know, like 55 for reduced pension or 62 (I think) for full. If he is newer, that obviously doesn’t apply to him. However, I’m pretty sure you can’t draw a monthly payment with PP until you hit a certain age. I know you can draw the full amount if you quit, hence the term PORTABLE Pension. Thanks for playing...again, Earl.
Years alone determine the % of your salary they deposit. You just happen to be of a certain age when they do it. Edit: To be exact you have to have a certain amount of points to move up to the next percentage. Points are based on age plus years of service. To reach the highest category you have to have 75 points if I remember correctly. So a 50 year old with 25 years in gets the highest percentage contribution. And that's the terrible thing about the portable pension. To make it work for you you must start young and work a very long time.
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It’s close to that where I am for a UPS driver also. It all depends on their Teamster Local.
Didn't they up the age to receive a monthly payment on the portable pension to 62 instead of 60 on the traditional? Is there even a reduced payment option at 55 anymore?
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Last I heard, there is a reduced payment option. A few of us the other day were trying to figure out what the retirement age is right now. We couldn’t agree on it. Someone was going to call Memphis. They constantly change things, so who knows?
I seem to recall a bunch of guys at work getting really upset that the age to get the maximum payment went to 62.
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I don’t know for sure what the age is. If I remember, I’ll ask a guy who’s getting ready to retire.
Not that it matters, you have to work until you're 70 and hope you don't live past 80 for the portable pension to amount to anything. I wonder what a reduced payment at 55 would look like on that sorry piece of crap pension(have to get some buzzwords in to get Oldfart's blood pressure up)?
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