Tradtional vs Portable

[Oldfart]

It's not surprising. If you haven't noticed, old dudes like to pretend that they know a lot about specific subjects, depending on what ever factually inaccurate article they happened to have read on the internet on that particular day. From what I have seen, with dudes, it's an inevitability of aging; I'm not looking forward to it.

While you stay in your parents basement, picking your nose and watching online porn just HOPING you get a real girl someday, the rest of us are living life and experiencing reality. Once your testicles drop and you come off the allowance and earn a living, you will have an opinion someone MIGHT want to hear.

 

[Meat]

While you stay in your parents basement, picking your nose and watching online porn just HOPING you get a real girl someday, the rest of us are living life and experiencing reality. Once your testicles drop and you come off the allowance and earn a living, you will have an opinion someone MIGHT want to hear.

You sure about that? You have 30 plus years of experience and NOBODY wants to hear what your opinion is - don't let that stop you from prattling on, though. As you know, these folk need something to complain about, and it may as well be you.

 

[Oldfart]

You sure about that? You have 30 plus years of experience and NOBODY wants to hear what your opinion is - don't let that stop you from prattling on, though. As you know, these folk need something to complain about, and it may as well be you.

You shorted me 10 years. Not sure what you are talking about. I love these posters and they love me. I have a mailbox full of PM's from some of them expressing their appreciation for my opinion. In turn, I have sent many messages to some of them expressing my thanks for sharing their life experiences and wisdom.

 

[vantexan]

It's not surprising. If you haven't noticed, old dudes like to pretend that they know a lot about specific subjects, depending on what ever factually inaccurate article they happened to have read on the internet on that particular day. From what I have seen, with dudes, it's an inevitability of aging; I'm not looking forward to it.

Someday you are going to remember posting this, and you're going to realize then just how inexperienced you were.

 

[fdxsux]

Too bad FedEx didn't keep their word when they told us we could choose if we wanted to keep our traditional pension or switch to the portable. Then oldfart could have had his portable and the rest of FedEx could have kept the traditional.

 

[Oldfart]

Too bad FedEx didn't keep their word when they told us we could choose if we wanted to keep our traditional pension or switch to the portable. Then oldfart could have had his portable and the rest of FedEx could have kept the traditional.

Can't dwell on WHAT IF forever. It's gone and isn't coming back. That was 10 or 11 years ago. Have you been upset all that time?

 

[BootsOnTarmac]

I want to add some clarity to what FedEx Express offers to current employees (info not including the Traditional plan).

You have a: FedEx Corporation Employees' Pension Plan, Aka: PPA

You can look at your "Current PPA Balance" at: retirement.fedex.com

This is separate from your: Company Sponsored 401(k) Plan

The PPA Balance is money that is yours solely funded by FedEx and available 100% to you after you are vested.

If you quit FedEx after 3,4,10,15 years, whatever, depending on retirement age, it will be paid out as an annuity or rolled over into an IRA or face an IRS penalty for cash withdrawal.

The 401K is simply a Company Sponsored Plan that deducts before tax dollars from your paycheck that you decide how much (%). This money along with a company (FedEx) match is put into investments controlled by Vanguard and available to you once vested.

You can choose to not invest in the 401k, borrow money invested or use it for a first time new home or withdraw it with an IRS penalty.

I urge everyone working at FedEx to go to: retirement.fedex.com

You will see what you have accumulated in your Traditional Plan, PPA and 401k, plain and simple.

 

[Meat]

Someday you are going to remember posting this, and you're going to realize then just how inexperienced you were.

More likely, someday I'll question why I ever bothered to waste my precious time posting on this website at all (as will you). Actually, that day is today - have fun spending the rest of your life wallowing in self-pity and generally contributing to mongoloid culture!

 

[vantexan]

More likely, someday I'll question why I ever bothered to waste my precious time posting on this website at all (as will you). Actually, that day is today - have fun spending the rest of your life wallowing in self-pity and generally contributing to mongoloid culture!

Buh bye!!

 

[Fred's Myth]

While you stay in your parents basement, picking your nose and watching online porn just HOPING you get a real girl someday, the rest of us are living life and experiencing reality. Once your testicles drop and you come off the allowance and earn a living, you will have an opinion someone MIGHT want to hear.

What class! I'm sure your Neanderthal associates are proud!

 

[It will be fine]

More likely, someday I'll question why I ever bothered to waste my precious time posting on this website at all (as will you). Actually, that day is today - have fun spending the rest of your life wallowing in self-pity and generally contributing to mongoloid culture!

No. Stop. Don't go.

 

[Artee]

If I were not married, the Traditional goes away at my death.

Why don't you just cash out your traditional when you retire and move it into your IRA? That way it will never go away when you or your wife die. I was capped at 15 years on the traditional and the numbers are pretty pathetic especially when you look at the different terms and survivor benefits and how much it will drop per month. I would rather just take the money when I leave which will be $166,000 and put it in my IRA. If everyone is doing like they should as far as contributions, you should have a least 1 million in your 401k when you retire, so that should help a bit.

 

[fdxsux]

Can't dwell on WHAT IF forever. It's gone and isn't coming back. That was 10 or 11 years ago. Have you been upset all that time?

Every time I see my pathetic portable pension account I get upset.

 

[Oldfart]

Why don't you just cash out your traditional when you retire and move it into your IRA? That way it will never go away when you or your wife die. I was capped at 15 years on the traditional and the numbers are pretty pathetic especially when you look at the different terms and survivor benefits and how much it will drop per month. I would rather just take the money when I leave which will be $166,000 and put it in my IRA. If everyone is doing like they should as far as contributions, you should have a least 1 million in your 401k when you retire, so that should help a bit.

The lump sum option is quite a bit smaller for me. I believe about 5 years of monthly payments. I believe you need to look again at the various monthly options. I only lose about 200 a month if I go the 75/25 option and about 300 if I go the 50/50 route. Why they call it 75/25 and 50/50 I am not sure. It is closer to 90/25 and 75/50.

For me, my pension is just a suppliment to my retirement. Like you mentioned, a properly funded 401k will be the basis of my income. Drawing off 5 or 6% while continuing to earn 4 or 5% will allow me to replace 85 to 90% of my working income and still leave a chunk to the kiddos.

 

[Oldfart]

Every time I see my pathetic portable pension account I get upset.

Maybe you are expecting too much. Free money drawing 4% isnt too bad.

 

[BootsOnTarmac]

The problem with the PPA is that you probably have only 12K dollars after ten years of employment.

 

[Oldfart]

The problem with the PPA is that you probably have only 12K dollars after ten years of employment.

How so. Even a person making 30k per year, which I can't see many FT couriers making, should get 1500 or more per year, depending on his age and years of employment. Then as he gets older and years of employment go up, so will his salary and %. After 10 years, he should be 20 to 25k conservatively. I have been in it 11 or so and I know my % is higher and my salary is higher but I can't believe I should have 10 times more than any other FT courier in that same time period.

 

[McFeely]

The problem with the PPA is that you probably have only 12K dollars after ten years of employment.

I just checked mine and I have just shy of 10k in my PPA after only 4 years of being a courier.

 

[Oldfart]

The problem with the PPA is that you probably have only 12K dollars after ten years of employment.

There is PROBABLY and then there is REALITY.

 

[OrioN]

To give a bigger picture...

It's something

Better than nuthin' a la FedEx Ground / HD

My primary rental property will be paid off in 3 years, then I'll use the equity to look for a duplex house next & start building my retirement from there.