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<blockquote data-quote="Ricochet1a" data-source="post: 578778" data-attributes="member: 22880"><p>From FedEx's own site:</p><p> </p><p><strong><span style="font-family: 'Swiss721BT-Bold'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Bold'"><span style="font-size: 10px"><p style="text-align: left">Portable Pension Account</p><p></span></span></span></span></strong><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><p style="text-align: left">For employees accruing benefits under the Portable Pension Account, the pension benefit accrued after</p></span></span></span></span></p><p style="text-align: left"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">May 31, 2003 is expressed as a notional cash balance account. For each plan year in which a participant is</p></span></span></span></span></p><p style="text-align: left"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">credited with a year of service, compensation credits are added based on the participant</p><p></span><p style="text-align: left"></p><p></span><p style="text-align: left"></p><p></span><p style="text-align: left"></p><p></span><p style="text-align: left"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">’</span></span></span></span><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">s age and years of</span></span></span></span></p> <p style="text-align: left"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">service as of the end of the prior plan year and the participant</span></span></span></span><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">’</span></span></span></span><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">s eligible compensation for the prior calendar</span></span></span></span></p> <p style="text-align: left"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">year based on the following table:</span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span><strong><span style="font-family: 'Swiss721BT-Bold'"><span style="font-size: 9px"><span style="font-family: 'Swiss721BT-Bold'"><span style="font-size: 9px"><p style="text-align: left">Age + Service on May 31 Compensation Credit</p><p></span></span></span></span></strong><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><p style="text-align: left">Less than 55 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5%</p></span></span></span></span></p><p style="text-align: left"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">55-64 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6%</p></span></span></span></span></p><p style="text-align: left"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">65-74 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7%</p><p>75 or over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8%</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">So... for our hypothetical Courier, he'll have a 5% match for the first 15 years of his career, a 6% match for years 16-20 and a a 7% match for years 21-25.</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">Wow quadro, you were right. That makes all the difference in the world!!! A thousand apologies!!</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">An extra 1% of gross for 5 years and an extra 2% of gross for the last 5 years! This is going to be livin' large at the big house with that kind of money!!!!</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">Let's take our new hire with this data from FedEx.</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">Hired on June 2008 at age 25 at $15/hr.</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">Tops out at $37.19 in 2025</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">Let's see what those few percentage points difference got this employee?</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">With a straight 5% 2033= $138,118</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">With 5/6/7% 2033 = $154,882 </span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">You know, quadro is right.......an extra $16,764 balance as of 2033 ($8,021 in 2009 dollars). Living large, I see it.</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">Balance in 2043 upon retirement = $229,264 (this is with those extra 1 and 2 percentage points).</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">With just the 5% assumed before = $204,450</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">I see it, I see it, quadro was right.... an extra $24,814... makes all the difference!!!</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">Annuity of $229,264 invested at 5.5% with 20 year draw down to a zero balance</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">$1,577 monthly pension (2043 dollars) or $19,925 annual</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">This is $6,743 annual in 2009 dollars.</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">WOW!!! A FedEx pension after 25 years of service at age 60 of $6,743 in 2009 dollars. All hail quadro, shill extraordinare!!!</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">Quadro, you quibbled over an insignificant amount and you still are demonstrated to be false in your assertion that FedEx is offering a pension. PLEASE give it up. FedEx4Life, it looks like you signed on to the wrong list to peddle your dribble. Who is "owned" now.</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">To compare this to the traditional pension...</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">This employee would've had an average high of $105,000 when he retired in 2033. This would've granted a pension of $52,500 a year at age 60 ($18,683 in 2009 dollars). Someone definately got "owned" here (you sound like a 21 year old FedEx4Life). Let's play fractions for our shill:</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">$6,743/$18,683 = 36.09%</span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">Our hard working Courier that hired in June 2008 will get just a fraction over 36% of what he would've received under the Traditional Pension Plan. </span></span></span></span></p><p> <span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px">Why don't you two head back over to bailout.com and peddle your FALSEHOODS there?</span></span></span></span></p><p><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"><span style="font-family: 'Swiss721BT-Roman'"><span style="font-size: 10px"></span></span></span></span></p></blockquote><p></p>
[QUOTE="Ricochet1a, post: 578778, member: 22880"] From FedEx's own site: [B][FONT=Swiss721BT-Bold][SIZE=2][FONT=Swiss721BT-Bold][SIZE=2][LEFT]Portable Pension Account[/LEFT] [/SIZE][/FONT][/SIZE][/FONT][/B][FONT=Swiss721BT-Bold][SIZE=2][FONT=Swiss721BT-Bold][SIZE=2][/SIZE][/FONT][/SIZE][/FONT][FONT=Swiss721BT-Roman][SIZE=2][FONT=Swiss721BT-Roman][SIZE=2][LEFT]For employees accruing benefits under the Portable Pension Account, the pension benefit accrued after May 31, 2003 is expressed as a notional cash balance account. For each plan year in which a participant is credited with a year of service, compensation credits are added based on the participant[/LEFT][/SIZE][LEFT][/left][/FONT][LEFT][/left][/SIZE][LEFT][/left][/FONT][LEFT][FONT=Swiss721BT-Roman][SIZE=2][FONT=Swiss721BT-Roman][SIZE=2]’[/SIZE][/FONT][/SIZE][/FONT][FONT=Swiss721BT-Roman][SIZE=2][FONT=Swiss721BT-Roman][SIZE=2]s age and years of service as of the end of the prior plan year and the participant[/SIZE][/FONT][/SIZE][/FONT][FONT=Swiss721BT-Roman][SIZE=2][FONT=Swiss721BT-Roman][SIZE=2]’[/SIZE][/FONT][/SIZE][/FONT][FONT=Swiss721BT-Roman][SIZE=2][FONT=Swiss721BT-Roman][SIZE=2]s eligible compensation for the prior calendar year based on the following table:[/SIZE][/FONT][/SIZE][/FONT][/LEFT][FONT=Swiss721BT-Roman][SIZE=2][FONT=Swiss721BT-Roman][SIZE=2] [/SIZE][/FONT][/SIZE][/FONT][B][FONT=Swiss721BT-Bold][SIZE=1][FONT=Swiss721BT-Bold][SIZE=1][LEFT]Age + Service on May 31 Compensation Credit[/LEFT] [/SIZE][/FONT][/SIZE][/FONT][/B][FONT=Swiss721BT-Bold][SIZE=1][FONT=Swiss721BT-Bold][SIZE=1][/SIZE][/FONT][/SIZE][/FONT][FONT=Swiss721BT-Roman][SIZE=2][FONT=Swiss721BT-Roman][SIZE=2][LEFT]Less than 55 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5% 55-64 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6% 65-74 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7%[/LEFT] 75 or over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8% So... for our hypothetical Courier, he'll have a 5% match for the first 15 years of his career, a 6% match for years 16-20 and a a 7% match for years 21-25. Wow quadro, you were right. That makes all the difference in the world!!! A thousand apologies!! An extra 1% of gross for 5 years and an extra 2% of gross for the last 5 years! This is going to be livin' large at the big house with that kind of money!!!! Let's take our new hire with this data from FedEx. Hired on June 2008 at age 25 at $15/hr. Tops out at $37.19 in 2025 Let's see what those few percentage points difference got this employee? With a straight 5% 2033= $138,118 With 5/6/7% 2033 = $154,882 You know, quadro is right.......an extra $16,764 balance as of 2033 ($8,021 in 2009 dollars). Living large, I see it. Balance in 2043 upon retirement = $229,264 (this is with those extra 1 and 2 percentage points). With just the 5% assumed before = $204,450 I see it, I see it, quadro was right.... an extra $24,814... makes all the difference!!! Annuity of $229,264 invested at 5.5% with 20 year draw down to a zero balance $1,577 monthly pension (2043 dollars) or $19,925 annual This is $6,743 annual in 2009 dollars. WOW!!! A FedEx pension after 25 years of service at age 60 of $6,743 in 2009 dollars. All hail quadro, shill extraordinare!!! Quadro, you quibbled over an insignificant amount and you still are demonstrated to be false in your assertion that FedEx is offering a pension. PLEASE give it up. FedEx4Life, it looks like you signed on to the wrong list to peddle your dribble. Who is "owned" now. To compare this to the traditional pension... This employee would've had an average high of $105,000 when he retired in 2033. This would've granted a pension of $52,500 a year at age 60 ($18,683 in 2009 dollars). Someone definately got "owned" here (you sound like a 21 year old FedEx4Life). Let's play fractions for our shill: $6,743/$18,683 = 36.09% Our hard working Courier that hired in June 2008 will get just a fraction over 36% of what he would've received under the Traditional Pension Plan. Why don't you two head back over to bailout.com and peddle your FALSEHOODS there? [/SIZE][/FONT][/SIZE][/FONT] [/QUOTE]
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