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Wages: Lets get to the facts
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<blockquote data-quote="vantexan" data-source="post: 1282297" data-attributes="member: 24302"><p>Under the old plan a topped out employee who averaged $60k a year over his top 5 years would get $30k a year. With contributions to his 401k and Social Security he'd do ok in retirement. There are strategies to maximize income as well as lower personal expenses too. But with slow pay progression the mid-range employees aren't keeping up with inflation and aren't making enough to fund their 401k's well, unless they have a spouse making good money. We'll see people working much longer and Social Security will be the main source of their retirement income. If FedEx truly cared, and if true they can't afford the traditional pension, then at least they could offer a better match on the 401k and get people up to top out in a reasonable amount of time.</p></blockquote><p></p>
[QUOTE="vantexan, post: 1282297, member: 24302"] Under the old plan a topped out employee who averaged $60k a year over his top 5 years would get $30k a year. With contributions to his 401k and Social Security he'd do ok in retirement. There are strategies to maximize income as well as lower personal expenses too. But with slow pay progression the mid-range employees aren't keeping up with inflation and aren't making enough to fund their 401k's well, unless they have a spouse making good money. We'll see people working much longer and Social Security will be the main source of their retirement income. If FedEx truly cared, and if true they can't afford the traditional pension, then at least they could offer a better match on the 401k and get people up to top out in a reasonable amount of time. [/QUOTE]
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