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What really happened to your Pension?... (Long Post)
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<blockquote data-quote="vantexan" data-source="post: 1013836" data-attributes="member: 24302"><p>A few points. 25 billion isn't a quarter of a trillion dollars. That would be 250 billion.</p><p></p><p>The FedEx pension was based on averaging your 5 highest paid years, which might or might not be your last 5 years.</p><p></p><p>I agree that the cash balance plan is inadequate. But as your money inflates over the years the amount added each year will grow. Make $40k now? With raises, which are roughly the equivalent of the inflation rate, you might make $50k in 10 or so years. So your contributions will increase also. Not a good deal, but it's not like your money just sits there and suffers 30 years of inflation. Plus you get the 1% quarterly that will offset normal inflation.</p><p></p><p>It's pretty much academic anyways. If FedEx manages to make do with a high turnover, mostly part-time workforce their pension plans will mostly affect exec's, pilots, mechanics, basically anyone that they truly value. We couriers are expendable assets that must be managed in a way that protects the bottom line.</p></blockquote><p></p>
[QUOTE="vantexan, post: 1013836, member: 24302"] A few points. 25 billion isn't a quarter of a trillion dollars. That would be 250 billion. The FedEx pension was based on averaging your 5 highest paid years, which might or might not be your last 5 years. I agree that the cash balance plan is inadequate. But as your money inflates over the years the amount added each year will grow. Make $40k now? With raises, which are roughly the equivalent of the inflation rate, you might make $50k in 10 or so years. So your contributions will increase also. Not a good deal, but it's not like your money just sits there and suffers 30 years of inflation. Plus you get the 1% quarterly that will offset normal inflation. It's pretty much academic anyways. If FedEx manages to make do with a high turnover, mostly part-time workforce their pension plans will mostly affect exec's, pilots, mechanics, basically anyone that they truly value. We couriers are expendable assets that must be managed in a way that protects the bottom line. [/QUOTE]
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What really happened to your Pension?... (Long Post)
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