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<blockquote data-quote="Ricochet1a" data-source="post: 578942" data-attributes="member: 22880"><p>This is the spreadsheet both in Excel and Word format.</p><p> </p><p>Assumptions:</p><p> </p><p>25 Year old new hire in June 2008 at $15/hr.</p><p> </p><p>No pay raise for 2009, 2% pay raise 2010, 5.5% annual pay raise until top out occurs.</p><p> </p><p>No change in top end for 2009, 2% increase in 2010 and 3% increase in top end thereafter.</p><p> </p><p>3% annual inflation rate</p><p> </p><p>Full-time employee working 40 hour week plus 10% in OT wages</p><p> </p><p>With the above assumptions, this employee has in 2043 $212,543. This equates to $77,800 in 2009 dollars. This will provide an annuity of $6,422 in 2009 dollars upon retirement at age 60 lasting 20 years until exhaustion at age 80. </p><p> </p><p>All of this assumes FedEx will continue to operate for the next 25 years as it did over the past 25, which will not happen. </p><p> </p><p>PPPs are intended to allow young employees that spend a short time with an employer to leave with a cash balance upon their termination of employment. Defined Benefit Pension Plans tend to reward long term career employees with a livable pension upon retirement age. The switch to a PPP is both less expensive for FedEx and reflects its future desire to have short term, part-time employees which will leave after 5-10 years of employment. FedEx is quickly transforming from a career job for wage earners into part-time employment for those who draw a wage.</p></blockquote><p></p>
[QUOTE="Ricochet1a, post: 578942, member: 22880"] This is the spreadsheet both in Excel and Word format. Assumptions: 25 Year old new hire in June 2008 at $15/hr. No pay raise for 2009, 2% pay raise 2010, 5.5% annual pay raise until top out occurs. No change in top end for 2009, 2% increase in 2010 and 3% increase in top end thereafter. 3% annual inflation rate Full-time employee working 40 hour week plus 10% in OT wages With the above assumptions, this employee has in 2043 $212,543. This equates to $77,800 in 2009 dollars. This will provide an annuity of $6,422 in 2009 dollars upon retirement at age 60 lasting 20 years until exhaustion at age 80. All of this assumes FedEx will continue to operate for the next 25 years as it did over the past 25, which will not happen. PPPs are intended to allow young employees that spend a short time with an employer to leave with a cash balance upon their termination of employment. Defined Benefit Pension Plans tend to reward long term career employees with a livable pension upon retirement age. The switch to a PPP is both less expensive for FedEx and reflects its future desire to have short term, part-time employees which will leave after 5-10 years of employment. FedEx is quickly transforming from a career job for wage earners into part-time employment for those who draw a wage. [/QUOTE]
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