Yeah right. Choose between staying in traditional or going to new portable pension. About a year or so later...ok, you who chose to stay in plan are going to go into new plan in spite of choosing to remain in the traditional. Here's some extra money over the next five years to soften the blow. You who chose to go into the new plan voluntarily? You don't get any extra money. See, it's fair because everyone gets screwed! But don't worry, you who were topped out after 2-4 years will get 3% raises on better pay. You who have been working 10+ years on much less pay will get 2% raises. You might top out in 30 years if you hang in there! Yep, nothing wrong here, move along.Nothing wrong with what they did other than it being unpopular. ::::
retirement
- Thread starter NC man
- Start date
Fred's Myth
Nonhyphenated American
So you believe that when a company solicits job seekers, and agrees to provide stated benefits and wages to secure their labor, that they are not obligated to provide those benefits and wages other than as an enticement for the prospective employee. That once the services of that job seeker is attained, that they can withdraw any or all agreed upon benefits and wages.Nothing wrong with what they did other than it being unpopular. ::
Then you have absolutely no integrity.
It was on the up and up because they had their fingers crossed.
got my password in the mail, below is retire at 62 commence benefits at 63, first column is ppa lumps sum ,then traditional with different options to spouse. the chart has place for termination date and commence date so put in terminate as 62 and commence as 63. I dont know why retirement tells you different when you call and why my friend who retired 2 yrs ago says not in his paperwork they sent. Gonna have to call again. below this will be retie at 62 commence at 62
Straight Life Annuity TPB
| -- | $1,462 | $0 |
| Lump Sum
| $102,246 | -- | -- |
| 50% Joint and Survivor Annuity TPB
| -- | $1,299 | $650 |
| Lump Sum
| $102,246 | -- | -- |
| 75% Joint and Survivor Annuity TPB
| -- | $1,231 | $923 |
| Lump Sum
| $102,246 | -- | -- |
| 100% Joint and Survivor Annuity TPB
| -- | $1,169 | $1,169 |
| Lump Sum
| $102,246 | -- | -- |
| Life Annuity with 60 Payments / 5 Years Guaranteed TPB
| |||
| Before 07-01-2028 | -- | $1,454 | $1,454 |
| Beginning 07-01-2028 | -- | $1,454 | $0 |
| Lump Sum
| $102,246 | -- | -- |
| Life Annuity with 120 Payments / 10 Years Guaranteed TPB
| |||
| Before 07-01-2033 | -- | $1,431 | $1,431 |
| Beginning 07-01-2033 | -- | $1,431 | $0 |
| Lump Sum
| $102,246 | -- | -- |
| Life Annuity with 180 Payments / 15 Years Guaranteed TPB
| |||
| Before 07-01-2038 | -- | $1,389 | $1,389 |
| Beginning 07-01-2038 | -- | $1,389 | $0 |
| Lump Sum
| $102,246 | -- | -- |
| Social Security Leveling Option at Age 67 TPB
| |||
| Before 08-01-2027 | -- | $3,183 | $0 |
| Beginning 08-01-2027 | -- | $931 | $0 |
| Lump Sum
| $102,246 | -- | -- |
terminate at 62, commence at 62
| Straight Life Annuity TPB
| -- | $1,315 | $0 |
| Lump Sum
| $98,256 | -- | -- |
| 50% Joint and Survivor Annuity TPB
| -- | $1,174 | $587 |
| Lump Sum
| $98,256 | -- | -- |
| 75% Joint and Survivor Annuity TPB
| -- | $1,114 | $836 |
| Lump Sum
| $98,256 | -- | -- |
| 100% Joint and Survivor Annuity TPB
| -- | $1,060 | $1,060 |
| Lump Sum
| $98,256 | -- | -- |
| Life Annuity with 60 Payments / 5 Years Guaranteed TPB
| |||
| Before 07-01-2027 | -- | $1,309 | $1,309 |
| Beginning 07-01-2027 | -- | $1,309 | $0 |
| Lump Sum
| $98,256 | -- | -- |
| Life Annuity with 120 Payments / 10 Years Guaranteed TPB
| |||
| Before 07-01-2032 | -- | $1,291 | $1,291 |
| Beginning 07-01-2032 | -- | $1,291 | $0 |
| Lump Sum
| $98,256 | -- | -- |
| Life Annuity with 180 Payments / 15 Years Guaranteed TPB
| |||
| Before 07-01-2037 | -- | $1,257 | $1,257 |
| Beginning 07-01-2037 | -- | $1,257 | $0 |
| Lump Sum
| $98,256 | -- | -- |
| Social Security Leveling Option at Age 67 TPB
| |||
| Before 08-01-2027 | -- | $2,926 | $0 |
| Beginning 08-01-2027 | -- | $674 | $0 |
| Lump Sum
| $98,256 | -- | -- |
Corporate Plan TPB:
Your Corporate Plan TPB can be started at age 60 with no reduction; the early retirement reduction is unchanged; and, if you retire and delay the start of your benefit past age 60, you still will receive a late retirement increase for the number of months your benefit was delayed.
Your Corporate Plan TPB can be started at age 60 with no reduction; the early retirement reduction is unchanged; and, if you retire and delay the start of your benefit past age 60, you still will receive a late retirement increase for the number of months your benefit was delayed.
as mentioned you put in termination age/ date and commencement age/date
Projection Assumptions
Projection Assumptions
| Retirement Dates | |||
|---|---|---|---|
| Termination Date | Key Dates | Earliest Commencement Date 10-01-2020 Age 62 Commencement Date 08-01-2022 Age 65 Commencement Date 08-01-2025 | |
| Other Date | (mm-dd-yyyy) | ||
| Age | |||
| Benefit Commencement Date | Key Dates | Earliest Commencement Date Age 62 Commencement Date Age 65 Commencement Date | |
| Other Date | (mm-dd-yyyy) (Must be the first day of the month coinciding with or after your termination date.) | ||
| Age |
falcon back
Well-Known Member
Maybe when texman finishes his morning dumpster dive for breakfast he can get the 5th grader sleeping in the next car over to explain to him how to read your chart. He will still say I am lying and that your chart is wrong. If my calculator is correct, your increase looks like 11.5%. You cant beat that for guaranteed return. I had to call retirement again yesterday for some questions and I asked the lady why this information isn't given to the employees and didn't get a good answer. The yearly increase continues until you decide to take it providing you have the means to support yourself until then. Like I posted earlier, there is a break even age you must live to. The later you take the pension, the longer you must live for delaying to pay off.
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falcon back
Well-Known Member
Where on that website was this information posted? I haven't seen that before?
Cactus
Just telling it like it is
You're full of crap. Nuttin' new though.Nothing wrong with what they did other than it being unpopular. ::
Cactus
Just telling it like it is
Oh you mean that you don't get squat for running an imaginary 3 day a week FO route all because your wife won big on a imaginary scratch-off lottery ticket?
I'm sure the retirement center hangs up the phone when they find out it's you on the other end.
Will have to go back and see exactly where but that’s copied and pasted.
falcon back
Well-Known Member
I found it. Home page, TOOLS and RESOURCES then click KEY DATES. It is under the chart on that page. Glad you were able to see for yourself what I had been posting. From my understanding, this is nothing new. People that retired years ago told me they had this same option but it just isn't very clear from retirement. My retirement advisor pointed out to me and I was surprised I had never been told that before. Delaying commencing your pension is not for everyone but I am planning on waiting a few years and see how it goes.
One thing about your totals I found odd, the DIFFERENCE between your Straight Life Annuity pension and your 100% Joint & Survivor pension was larger than mine even though my amounts were larger. Seems strange.
falcon back
Well-Known Member
Yep posted my reply at the same time you replied. If your 401k will let you delay several years, that pension will grow substantially by waiting. I am gonna try to wait 5 years if the market will cooperate. I can always make a call to Retirement to begin it any time before then.
dezguy
Well-Known Member
Thought you already retired? Remember? Your wife won a lottery scratcher.
In 2017 when I retired none of this was mentioned. I talked to Retirement Administration as well as received the official packet in the mail. If you are waiting 5 years it will be interesting to see if your pension grows that much. Remember also that you got 25 years on topped out pay. I got 19 years on much less pay. If I hadn't of quit in '97 I would have gotten 21 years on topped out pay before they terminated the plan. My first year was in the Hub and didn't get 1000 hours.
falcon back
Well-Known Member
I was right you jerk. You continued to call me a liar. I was right all along. Your numbers grow every year regardless of how long you wait. Roughly 10% for Traditional, 4% Portable.
falcon back
Well-Known Member
Do you remember posting this? Well I WAS 100% correct. You have your doubts because you live in a car.
I posted it, you called me a liar numerous times.
Doodlebug confirmed it, you called me a liar.
NC confirmed it, I imagine I am still a liar.
Tell me this...do you have to leave the company but then delay taking your pension? In other words do they give the extra 10% as an incentive to delay because they aren't giving you the full amount? It sounds like you are planning to continue to work at FedEx thinking you'll get an extra 50%+ if you wait 5 years to retire. You might want to get that clarified. You may be in for a shock if you continue to work then find out you're only getting what you would have gotten 5 years before. And in my case at 55 I had to take it because I needed the income. And there was nothing other than it increased 3% until 60 given to me as info.
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