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WOW!! A Fully-Funded Pension
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<blockquote data-quote="MrFedEx" data-source="post: 734470" data-attributes="member: 12508"><p>FedEx is instructing managers to portray the FedEx Pension Plan as rock-solid and the Teamster's Pension Plans as weak and under-funded. On one hand, this is true. FedEx Pension Plans <em>are </em>fully funded. <strong>BUT, </strong>even if you have 25 years in under the extinct Traditional Plan, your monthly payout will be less than half that of a 25-year UPS driver. <strong>AND, </strong>if you are under the new PPP, you will have a miniscule monthly payout which isn't a pension at all.</p><p> </p><p>It's easy to fully fund a pension plan that sucks, and that's the part FedEx is forgetting to tell you. They'd rather not compare the pittance you'll receive from them to a genuine <em>livable </em>retirement plan that won't force you to live in your car. If you hired-on in 2004 or after, you've always been under the PPA anyway, <strong>which means you have a WORTHLESS plan.</strong> Let's say you started in 2000, which means you have 8 years under the old plan (or 16% at 2% per year) and 2 years under the pathetic PPA. As you continue under the PPA you will eventually realize that you will <strong>never</strong> have a monthly payout that will allow for a comfortable retirement. Your small yearly annuity will grow, but it will also <strong>never</strong> be adequate for retirement purposes. </p><p> </p><p>In other words, you don't really have a retirement plan at all, and that's why it's easy for FedEx to fully fund the expired Traditional Plan and the new PPA. More lies and fact-twisting from the masters of the art.</p></blockquote><p></p>
[QUOTE="MrFedEx, post: 734470, member: 12508"] FedEx is instructing managers to portray the FedEx Pension Plan as rock-solid and the Teamster's Pension Plans as weak and under-funded. On one hand, this is true. FedEx Pension Plans [I]are [/I]fully funded. [B]BUT, [/B]even if you have 25 years in under the extinct Traditional Plan, your monthly payout will be less than half that of a 25-year UPS driver. [B]AND, [/B]if you are under the new PPP, you will have a miniscule monthly payout which isn't a pension at all. It's easy to fully fund a pension plan that sucks, and that's the part FedEx is forgetting to tell you. They'd rather not compare the pittance you'll receive from them to a genuine [I]livable [/I]retirement plan that won't force you to live in your car. If you hired-on in 2004 or after, you've always been under the PPA anyway, [B]which means you have a WORTHLESS plan.[/B] Let's say you started in 2000, which means you have 8 years under the old plan (or 16% at 2% per year) and 2 years under the pathetic PPA. As you continue under the PPA you will eventually realize that you will [B]never[/B] have a monthly payout that will allow for a comfortable retirement. Your small yearly annuity will grow, but it will also [B]never[/B] be adequate for retirement purposes. In other words, you don't really have a retirement plan at all, and that's why it's easy for FedEx to fully fund the expired Traditional Plan and the new PPA. More lies and fact-twisting from the masters of the art. [/QUOTE]
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