retirement

[IVE GOTTA PACKAGE 4U]

Why would FedEx pay us more to wait once we quit working? Over 30 yrs with company and can’t remember once when they did anything good for drivers when money involved. Not waiting for my money once I retire anyway though.

Just like many other pension plans the older you are usually the less yours they have to pay you

 

[59 Dano]

Wasn't a fiasco. Was a matter of lack of experience. Made it, lost it. Live and learn. Show me a courier with a decent retirement and I'll show you a courier who topped out early,

I said guys who were hired around the same time as you.

bought a house with his spouse, got most if not all of the 25 years on his traditional pension, his wife had a decent job too, didn't have too many children and was conservative in his spending. Sure, it happens. Someone who never married and wanted to have a few things and had his pension cut down while raises were non existant, not so much.

LOL, look at all the reasons why it's someone else's fault.

 

[59 Dano]

If you have a good paying job, sure. Most couriers live paycheck to paycheck. I didn't quit and come back every few years. I quit after 11 years because we hadn't got a raise for four years then got a very small one. Got frustrated. Came back and was willing to put in the 7-8 years I was told it would take to top out. Live and learn. Wasn't true. Put in just shy of 15 more years before quitting again. The ones who were topped out did make enough to have a few choices and a life if they were married and their spouse had a good job. I was back as a midrange employee for almost 15 years falling further and further behind top out. Please don't tell me all those midrange employees on the portable pension were doing just fine with their retirement. A lot of very unhappy people and a lot of turnover. How do you think 10+ year employees felt when told under the new pay plan they'd have to work another 7-8 years to top out when someone coming off the street would do it in 9 years? So try to frame it about me and my failings if you like, tens of thousands of couriers who hired on thinking they had a bright future with a great company found out differently. I feel for them because a lot of them are unaware of alternatives or worry that they'd be risking their life going overseas. And people like you stoke that fear when you don't know what you're talking about. Even if all they have is Social Security they are much better off in many countries. Not because the U.S. is horrible, but it's much more expensive than they can afford.

You're breaking my heart.

 

[59 Dano]

Many stay in the military 20+ years.

Most don't.

You don't think they should get a pension? And your statement about no employer should be tied down to 20+ years of providing a salary in a pension. If the employer offers that as part of your compensation and tells you every year where you stand and what you'll get when you retire, then yes they should pay you what they said they would. Don't make promises you have no intention to keep. Otherwise it was just lies to lure you in. You don't seem to be bothered about the company lying. Is it because we're just chattel to be used to make management wealthy?

For the love of Pete, do you ever stop whining?

 

[59 Dano]

Especially the ones that had the defined pension ripped from them after they affirmatively chose to remain in the plan?
Can/will you refute this?

They didn't have it ripped from them. Everything that was put into that pension up to that point stayed in that pension.

Before you denigrate me, I'll bet my Johnson has a bigger swing than yours.

You're thinking about my Johnson, that's nice.

 

[vantexan]

Most don't.



For the love of Pete, do you ever stop whining?

I have a lot more to whine about to catch up with you and Oldfart. But it is telling that you think it ok for a company to offer a traditional pension to its employees then pull the rug out from under them.

 

[vantexan]

You're breaking my heart.

You have a heart?

 

[vantexan]

I said guys who were hired around the same time as you.



LOL, look at all the reasons why it's someone else's fault.

You're very selective.

 

[vantexan]

I said guys who were hired around the same time as you.

. Originally hired in '86. Two years at th Hub then topped out in '90 as a courier. Was going well until they stopped giving raises. Yes, I shouldn't have quit. Doesn't matter, I'm heading overseas. Enjoy your plain vanilla existence.

 

[vantexan]

Hey Texan. I posted here that had talked to retirement. Like I said, I don't care who believes me. If they were smart enough, they could use the chart of the website to confirm the figures. It is just like waiting on collecting SS. You get 8% a yr increase for every year you delay taking it. There is a break even year involved. You must live long enough for the wait to pay off.

Your math is correct though. If a man retired TODAY and took his pension on Sept. 1, 2020 and was due 30k in his Traditional on Sept 1, 2020. By waiting till Sept 1, 2021, he would get a 10% bump. Doodlebug said she saw the same results. NC got bad info from someone in India most likely. The chart is there for everyone to see. Just think, if you had a 10% bump, you could have bought new tires for your sleeping quarters instead of having to buy recaps.

You're lying.

 

[IVE GOTTA PACKAGE 4U]

You're lying.

I don't know about the other stuff but he is correct about the social security. You get about a 8% bump every year until you hit age 70

 

[falcon back]

Why would FedEx pay us more to wait once we quit working? Over 30 yrs with company and can’t remember once when they did anything good for drivers when money involved. Not waiting for my money once I retire anyway though.

I tried to help you understand the various options. I even offered to help you use the online chart. You didn't want my help and now you are asking questions that would have been answered had you taken my help. NOW you accuse the company of never doing anything positive for DRIVERS. This option is offered to EVERYONE, not just drivers as you call us. CSA, mechanics, hub workers all have this option. By your attitude I believe you do not understand Social Security pays you more the longer you wait to take it. Yes, believe it or not, SS gives you an 8% increase for every year you delay taking your money. When you started this post, you seemed like someone that really wanted to know the correct answer to your question. I gave you indisputable answers despite others here, including a person who is living their car, calling me a liar. You called and got an incorrect answer to your question or maybe asked the wrong question to the retirement dept. Take your money the day you retire if you want, many do and that is your choice. Just know, there are other options and nobody can tell you when is the best time to take your pension or SS. That decision is for you to make. Good luck

 

[falcon back]

You're lying.

You live in your car and you actually think I care how you feel about me? I know I am right and it kills you to realize you just might be wrong. Either way, hope you find a good meal when you dumpster dive tonight and enjoy your shower at the public gym the next time you are able to get one.

 

[vantexan]

I don't know about the other stuff but he is correct about the social security. You get about a 8% bump every year until you hit age 70

True, understand. You get 25% more if you delay until 70 and I believe it's 30% less if you take it at 62.

 

[vantexan]

You live in your car and you actually think I care how you feel about me? I know I am right and it kills you to realize you just might be wrong. Either way, hope you find a good meal when you dumpster dive tonight and enjoy your shower at the public gym the next time you are able to get one.

Thanks, your concern touches me. Stop touching me you perv.

 

[IVE GOTTA PACKAGE 4U]

True, understand. You get 25% more if you delay until 70 and I believe it's 30% less if you take it at 62.

It's not a one fit answer for everyone.
So many calculations to make when it comes to social security.

Besides getting extra 8% increase from 62 to 70
It also take your best 35 years of wages into that calculation
So if you work one extra year it would take your lowest year off.

 

[falcon back]

It's not a one fit answer for everyone.
So many calculations to make when it comes to social security.

Besides getting extra 8% increase from 62 to 70
It also take your best 35 years of wages into that calculation
So if you work one extra year it would take your lowest year off.

You can't tell that homeless guy anything. The year you are born comes into play as well. Some people get full benefits when they turn 66, others at 67, others at months in between birthdays.

 

[vantexan]

I tried to help you understand the various options. I even offered to help you use the online chart. You didn't want my help and now you are asking questions that would have been answered had you taken my help. NOW you accuse the company of never doing anything positive for DRIVERS. This option is offered to EVERYONE, not just drivers as you call us. CSA, mechanics, hub workers all have this option. By your attitude I believe you do not understand Social Security pays you more the longer you wait to take it. Yes, believe it or not, SS gives you an 8% increase for every year you delay taking your money. When you started this post, you seemed like someone that really wanted to know the correct answer to your question. I gave you indisputable answers despite others here, including a person who is living their car, calling me a liar. You called and got an incorrect answer to your question or maybe asked the wrong question to the retirement dept. Take your money the day you retire if you want, many do and that is your choice. Just know, there are other options and nobody can tell you when is the best time to take your pension or SS. That decision is for you to make. Good luck

You're lying. And he will get a packet from retirement administration spelling out his options when he contacts them to inform them of his impending retirement. Depending on the choice he makes he may have to get his wife to sign off on it with it notarized. If what you say is true it'll be in that packet. Sure wasn't in mine.

 

[IVE GOTTA PACKAGE 4U]

You can't tell that homeless guy anything. The year you are born comes into play as well. Some people get full benefits when they turn 66, others at 67, others at months in between birthdays.

If he is happy in life that's all that matters.
Got the man some slack

 

[vantexan]

It's not a one fit answer for everyone.
So many calculations to make when it comes to social security.

Besides getting extra 8% increase from 62 to 70
It also take your best 35 years of wages into that calculation
So if you work one extra year it would take your lowest year off.

I'm well aware. And if you didn't work a full 35 years they plug a zero into the missing years. But as far as the 8% goes they either work back from your full retirement age, which in my case is 67, or they work forward to 70.5. They don't start at 62 and increase 8% all the way to 70.5. Too much compounding. They tell you what your monthly payment is at your full retirement age and then either reduce or increase from there. Another helpful hint. With my traditional pension if my birthday fell on the first of the month and I retired on the 1st my pension would start right away. Everyone else would have to wait until the following month. But SS will start your payment right away if your birthday falls on the first or second. My birthday is January 2nd so I will get my first payment on January 1st, 2024.