Portable pension
- Thread starter NC man
- Start date
FedEx Retiree 70 Broad $1,136 $1,136 $193 $2,272 $1,329 $1,329 $2,465 FedEx Retiree 70 Narrow $1,136 $1,136 $193 $2,272 $1,329 $1,329 $2,465 FedEx Retiree 80 Broad $1,387 $1,387 $236 $2,774 $1,623 $1,623 $3,010 FedEx Retiree 80 Narrow $1,387 $1,387 $236 $2,774 $1,623 $1,623 $3,010 FedEx Retiree Out-of-Area $1,387 $1,387 $236 $2,774 $1,623 $1,623 $3,010 FedEx Retiree 70 Kaiser $1,136 $1,136 $193 $2,272 $1,329 $1,329 $2,465 FedEx Retiree 80 Kaiser $1,387 $1,387 $236 $2,774 $1,623 $1,623 $3,010 HMSA PPO $1,387 $1,387 $236 $2,774 $1,623 $1,623 $3,010 HMSA HMO $1,387 $1,387 $236 $2,774 $1,623 $1,623 $3,010
did not paste right but yea 1136 is not family, if I did the above and put wife on too it would be 2272 a MONTH, crazy. No way im paying 1136 a month for me so the broker that found one for me is gonna be covered almost 100% (premium) by RHPA money. Fed does say they have the right to terminate this at any time for any reason. even scarier for young people in Fed ,if you were hired after 1 1 2018 there is no RHPA. Throw in SS could be cut by 20% if clowns in DC dont do something by 2035 and retirement for them looks bleak unless u save like a mother.
Operational needs
Virescit Vulnere Virtus
Yep. I’m over it. I‘ve been at FedEx a looong time.So, you'll look for a PT job where you can start over. Give up whatever seniority and vacation time you're getting now
Stat41
Well-Known Member
Wish you the best in your search. Everything's not all about money, its about quality of life.
Operational needs
Virescit Vulnere Virtus
Thanks. I haven’t had a “quality of life” at FedEx in a long time, between constantly changing start times and not getting off work many days til 1900-1930. Plus, I want to be able to enjoy Christmas, not Peak.
MassWineGuy
Well-Known Member
As much as I’d like a higher company match, I’ll probably keep things how they are. At least I can count on 3 1/2 percent until I can’t.
Yep.. 3.5% matching… compensation credits, interest credits and transition credits (if available) on the PP. It adds up to a lot more than the extra 4.5%. On the match.
MassWineGuy
Well-Known Member
Wow. I don’t know what those other credits are.
falcon back
Well-Known Member
Every broker I contacted about insurance after retirement came across plans that had cheaper premiums but outrageous deductibles and max out of pocket. Some had deductibles in the 6 to 8k range. I did the 18 months of Cobra at about 1k a month, then kept paying the 1k a month and the RHPA will last a little more than the time it takes to get to Medicare.
MassWineGuy
Well-Known Member
I’m going Medicare when I quit.
falcon back
Well-Known Member
As long as you are 65. I went way before that.
Stat41
Well-Known Member
Dont forget to get some good gap insurance also.
Fred's Myth
Nonhyphenated American
Steer clear of Medicare Advantage.
Go with Medicare A/B/D/G. Let a broker like Boomer Benefits analyze your situation, and give you a recommendation. Final choice is yours.
PurpleDrank
New Member
So what is the chances for being able to transfer your current pension balance into another retirement option (IRA) and then moving into the new 401k option, or is that pension balance locked regardless ?
falcon back
Well-Known Member
You can't do anything with your current pensions as long as you are employed. Once you leave you have a number of options.
floridays
Well-Known Member
What are you defining as pension?
Which balance are you speaking of?
fatboy33
Well-Known Member
Right. 401k(retirement Risk investment) and pension( company payout after retirement) are two different things all together. You are allowed to move your 401K balance into some sort of fund that's less risky but the return is much lower. If you're close to retiring, maybe considering moving out of the 401k scheme. All it takes is a few billionaires to decide to move money out of the market an there goes half your value.
floridays
Well-Known Member
You are partially correct.
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