retirement

[vantexan]

Not going to Argentina because I dont want to. 80k in the states isnt gonna let you do much just like 22k isnt letting you do.much
except count pesos.

You'll say anything to win an argument. I think most FedEx people here would be happy to have $80k in retirement. I bet if they're still working and suddenly realized they had $80k coming to them most would retire as soon as possible.

 

[Wally]

How the heck does anyone leave with insurance premiums that high? You need a union.

 

[vantexan]

How the heck does anyone leave with insurance premiums that high? You need a union.

Back in the 80's it was a much more generous company. Watching what they've done since the 90's makes me think the only reason they were generous early on was they were building a brand and trying to attract quality people. Retirement healthcare at FedEx is a joke unless you're a highly paid exec.

 

[falcon back]

No, if I had waited until 56 I would have gotten 12% less than I would have at 60. At 57 9% less. Whether they would have prorated it if I had retired at say 56 and 7 months I don't know. But it wouldn't have been an extra 10% a year. They clearly spelled that out in our annual benefits guide as well as the material they sent me for retirement. There was no option given to wait after 60 either. I had a handful of options, that wasn't one of them. If they are still sending out a benefits guide that should be in there. Or if not call Retirement Administration. But getting an extra 10% each year you wait after 60, or even 55 as you said, isn't so and never was.

Doodlebug confirmed I was correct. You just refuse to accept facts. Too bad

 

[falcon back]

You'll say anything to win an argument. I think most FedEx people here would be happy to have $80k in retirement. I bet if they're still working and suddenly realized they had $80k coming to them most would retire as soon as possible.

Whatever you say pesos counter. Living on 80k isnt gonna provide a carefree retirement. It might those that want to live in the jungle or sleep in a flop house. Like you

 

[vantexan]

Whatever you say pesos counter. Living on 80k isnt gonna provide a carefree retirement. It might those that want to live in the jungle or sleep in a flop house. Like you

Seriously? Very few FedEx couriers make $80k a year working but you think that's not enough annually in retirement?

 

[vantexan]

Doodlebug confirmed I was correct. You just refuse to accept facts. Too bad

The sad thing is you're giving some who read this false hope.

 

[59 Dano]

What bad choice? With the new pay plan I was looking at being almost 64 before topping out and that's assuming FedEx kept their word with annual raises.

And if you'd never quit at all...

 

[59 Dano]

But I'm getting by fine. You can't seem to grasp that my $22k in Argentina is easily the equivalent of $80k in the States. You would never go there though because you don't have the cajones.

What you're saying is that once you move 5000 miles away to another country, you'll finally be able to enjoy the standard of living that most Americans already enjoy and you won't have to keep sleeping in your car. Congratulations. Also, you'll look skinny if you hang around fat people. You'll look tall if you hang around little people.

 

[59 Dano]

Not going to Argentina because I dont want to. 80k in the states isnt gonna let you do much just like 22k isnt letting you do.much
except count pesos.

You have to look at it from his perspective: he's homeless, so that would be like a lottery win.

 

[IVE GOTTA PACKAGE 4U]

What you're saying is that once you move 5000 miles away to another country, you'll finally be able to enjoy the standard of living that most Americans already enjoy and you won't have to keep sleeping in your car. Congratulations. Also, you'll look skinny if you hang around fat people. You'll look tall if you hang around little people.

Did Ohio very few Americans actually have a retirement plan? Do you know how many Americans have less than $50,000 in their 401k plan when they retire?

 

[McFeely]

Did Ohio very few Americans actually have a retirement plan? Do you know how many Americans have less than $50,000 in their 401k plan when they retire?

One of our topped out couriers has less than 100k in his. He’s mid 50s and should be dialing in on retirement but will likely have to work until he’s dead. Just never saved squat.

 

[IVE GOTTA PACKAGE 4U]

One of our topped out couriers has less than 100k in his. He’s mid 50s and should be dialing in on retirement but will likely have to work until he’s dead. Just never saved squat.

You're preaching to the choir my friend. We have guys it's made over $100,000 for a decade and still only put 2% away in a 401k
it's much more important to have a $60,000 pickup truck and go on four cruises a year

 

[59 Dano]

One of our topped out couriers has less than 100k in his. He’s mid 50s and should be dialing in on retirement but will likely have to work until he’s dead. Just never saved squat.

Shouldn't he be OK with what he gets from the pension, Social Security, and whatever he has from his 401k? Not that he wasn't lazy about saving, but he has those other income streams.

 

[vantexan]

What you're saying is that once you move 5000 miles away to another country, you'll finally be able to enjoy the standard of living that most Americans already enjoy and you won't have to keep sleeping in your car. Congratulations. Also, you'll look skinny if you hang around fat people. You'll look tall if you hang around little people.

What I'm saying is I will live on about $500 a month in Argentina so that I can save enough to take care of my wife and I in our 70's as it's very possible that Social Security will be reduced significantly some time between 2030 and 2035. As for going to another country if you aren't aware at least half of the U.S. population will depend primarily on Social Security in retirement as their income during their working years was too low to save enough to support themselves in retirement. And midrange couriers in the last 20 or so years are squarely in that group. You can go on and on about people moving up into better jobs but the business model of FedEx and many other companies depends very much on people being willing to accept less. And there are only so many better jobs to go around.

 

[NC man]

When FedEx recently gave the option of staying in the portable or going into the new enhanced 401k it appeared very similar to when they offered us the choice to remain in the traditional or go into the new portable. If so look for the portable to be gone in a year or two. I never said it was set in stone, but it does look like the same strategy they employed then.

what is the enhanced 401k? I have not seen anything on this in mail from Fedex or from mgr or Sr mgr at my station. I had heard rumors of some change coming but we have been told nothing.

 

[vantexan]

You're preaching to the choir my friend. We have guys it's made over $100,000 for a decade and still only put 2% away in a 401k
it's much more important to have a $60,000 pickup truck and go on four cruises a year

The most I ever made at FedEx was $48k and I volunteered for all the OT available to get that.

 

[IVE GOTTA PACKAGE 4U]

The most I ever made at FedEx was $48k and I volunteered for all the OT available to get that.

Damn.
I probably made almost that much 30 years ago

 

[vantexan]

what is the enhanced 401k? I have not seen anything on this in mail from Fedex or from mgr or Sr mgr at my station. I had heard rumors of some change coming but we have been told nothing.

I'm no longer with the company so maybe others here can elaborate. The company made an offer recently to let employees leave the portable pension plan and go into a 401k that offered a larger match. Seemed like it offered a few other features too.

 

[falcon back]

Shouldn't he be OK with what he gets from the pension, Social Security, and whatever he has from his 401k? Not that he wasn't lazy about saving, but he has those other income streams.

$1800 or so pension,maybe $2000, if he had 23 or so yrs in the Traditional. Another $1800 or so SS. Most likely 100k or so in Portable. Plus a 401k. $4000 to $4500 a month isn't gonna go far.