MassWineGuy
Well-Known Member
Then again, perhaps I’ll just keep my current pension and employer match.
Upcoming 401(k) Changes
- Thread starter MassWineGuy
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FedexCares
Well-Known Member
From my limited research when they made this announcement awhile back was if you have been at fedex for a long time and are getting the highest % of yearly pay put into your PP (% increases actually from years of service) then it’s better to stay in the PP along with the current match to 401k.
However if you haven’t been at Fedex for very long they it’s best to drop the PP and go with the increased 401k. This was my takeaway when I looked at it awhile back but before I actually have to decide will dive a bit deeper.
However if you haven’t been at Fedex for very long they it’s best to drop the PP and go with the increased 401k. This was my takeaway when I looked at it awhile back but before I actually have to decide will dive a bit deeper.
I'm glad you got it after a few months. Cast majority of applicants get turned down at first and it's no guarantee that I'll get it. I talked to a lawyer about it last week, 3rd or 4th one I've talked to. I need documentation to have a chance and I can't afford insurance. I'll just pay as I go overseas. Even if I could get disability now I'd still go overseas to save money.
If health insurance is your challenge, go check out the ACA. Whether or not your state is a participating state and the programs offered by those who are enrolled vary from state to state but still worth the research. No question that having an extensive and documented medical history going back years would be of an enormous help. Social Security had no problem accessing my records because the primary care physicians practice had years of it on file which proved to be the difference in my case. But it's not the case with every individual. The only thing I had to do additional was to go for a Social Security directed visit to a Social Security contracted doctor. And it just so happen to have been scheduled the week prior to the second joint replacement. A done deal at that point . Obviously the end result was more due to dumb luck than anything else.
In a world such as ours your luck is only as good as your health and it can literally leave you in a heartbeat.
In a world such as ours your luck is only as good as your health and it can literally leave you in a heartbeat.
McFeely
Huge Member
Gotta consider how much they put in the PPA currently (depends on your age and years of service), the current 401k match, and your tolerance for risk.
My 401k is off the charts this year, but I don’t expect it to grow by $100k every 9 months like it did since March this year.
abused.crr
Well-Known Member
FedEx doesn’t have a pension plan, they have what’s basically a severance check for when you leave.
falcon back
Well-Known Member
Just consider the 490 Fortune 500 companies that don't even have that.
abused.crr
Well-Known Member
I can’t think of another industry where the two biggest competitors are so far apart in pay, healthcare, and retirement plans.
falcon back
Well-Known Member
Yet people stay where they are instead of chasing the money. Obviously you have never seen how the automakers are in the same situation. UAW all over the country pays way more and has way better benefits than non-union Kia, Nissan and other manufactures, Even union UAW workers are now being hired in different tiers than the senior employees. Lower pay, less benefits to new hires. UPS is doing the same thing.
abused.crr
Well-Known Member
One companies employees have federal protection to unionize and the other company has federal protection that their employees can’t unionize. Now that’s YUGE! A much bigger difference than the auto industry
MassWineGuy
Well-Known Member
Yes. The match now is three percent?
McFeely
Huge Member
3.5% if I recall. Do you have the chart for the PPA?
AB831
Well-Known Member
Why would anyone unionize against FredEx? Don’t you watch the Frontline videos? Some poll that no one has ever heard of ranked FredEx as one of the “most respected companies in the world.” That prestige is worth than the difference in pay.
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At one time that was actually true.
AB831
Well-Known Member
Oh, I believe it. When I would talk to the old timers, it sounded like it used to be a truly excellent company to work for. That couldn’t have been further from the truth from 2016- present
I'd say from about '94 to the present, but especially from 2003 onward.
MassWineGuy
Well-Known Member
Chart?
AB831
Well-Known Member
What was the cause for the change
MAKAVELI
Well-Known Member
Going public.
They discovered they could enhance profit by taking away from the employees. That accelerated when they needed money to build Ground infrastructure.
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