Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
The Competition
FedEx Discussions
Teamsters Reach Out to FedEx Freight Drivers Nationwide
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="MrFedEx" data-source="post: 2414151" data-attributes="member: 12508"><p>The Traditional Plan <em>is </em>a defined pension plan. The PPA is NOT a defined pension plan...it is an annuity, paid to you in a lump sum upon termination/retirement. See the difference? The PPA is worth perhaps one fifth of what the Traditional was, so you can see why the deplorables at the top did it. If you really want to see what your PPA is worth, check out the monthly payout calculation. Maybe you could buy a tank of gas and some groceries with it. You could call it a severance package because it's a lump sum payout, but it really is just an annuity that builds over time, unlike a bona fide severance package.</p><p></p><p>Severance packages are typically given to management level employees, not hourlies. If we were union (I wish) and the company wanted to get rid of you permanently (not just a layoff), they would have to buy you out.</p></blockquote><p></p>
[QUOTE="MrFedEx, post: 2414151, member: 12508"] The Traditional Plan [I]is [/I]a defined pension plan. The PPA is NOT a defined pension plan...it is an annuity, paid to you in a lump sum upon termination/retirement. See the difference? The PPA is worth perhaps one fifth of what the Traditional was, so you can see why the deplorables at the top did it. If you really want to see what your PPA is worth, check out the monthly payout calculation. Maybe you could buy a tank of gas and some groceries with it. You could call it a severance package because it's a lump sum payout, but it really is just an annuity that builds over time, unlike a bona fide severance package. Severance packages are typically given to management level employees, not hourlies. If we were union (I wish) and the company wanted to get rid of you permanently (not just a layoff), they would have to buy you out. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
The Competition
FedEx Discussions
Teamsters Reach Out to FedEx Freight Drivers Nationwide
Top