If it's a qualified plan then normally if you take a lump sum distribution prior to the minimum withdrawal age which is usually 59.5 years or you become disabled you can be charged a 10% penalty in addition to the taxes owed unless you roll it over to a qualified IRA plan within 60 days.
Spot on. Was there ever any doubt?....Terminal employment is like a terminal illness.....Time to get your affairs in order.How about this headline from Bloomberg? Full article is behind a pay wall unfortunately.
Business
FedEx Overhaul Contemplates a Future With No Drivers on Payroll
FedEx Corp. is ripping up founder Fred S’s well-worn playbook as it rethinks virtually the entire business. That could mean the end of FedEx drivers as we know them.www.bloomberg.com
FedEx Overhaul Contemplates a Future With No Drivers on Payroll
The lump sum only becomes an option when your employment ends There are some rules regarding the person becoming disabled. Minimum penalty free withdrawals otherwise is normally age 59.5.
If you’re disabled and can’t work anymore you’re considered “resigned”. Therefore you just take the lump sum.
Yeah I work for logistics and 100% remotely since 2020. Almost wondering if they ultimately plan on outsourcing a lot of our opco since a good portion of it is all computer work and is done remotely. Nothing would surprise me at this point in their quest to save a buck.
Having been through 3 of these things there was always one constant....Some will prosper....Some will persevere....And some will become impoverished.
Under the rules surrounding the majority of these plans the minimum age to begin withdrawing funds is age 59.5 . If however you become disabled prior to age 59.5 and it is determined by a qualified medical professional that you are fully disabled and can no longer work you can begin drawing benefits penalty free.
Is he wrong?Found a picture of @bacha29riding his steed to warn everyone that the sky is falling.
Modern day Paul Revere.
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Coming from a long retired Fedex employee who stands there with his thumb firmly planted in his bodily orifice not trying to do a thing to help the people who through no fault of their own are about to get their entire lives molested by the executives they once completely trusted.Found a picture of @bacha29
Modern day Paul Revere.
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Sneak peak of Raj and those job stealing robotsHere is the answer to the original question of this thread.....
FedEx Overhaul Contemplates a Future With No Drivers on Payroll
FedEx Corp. is ripping up founder Fred S’s well-worn playbook as it rethinks virtually the entire business. That could mean the end of FedEx drivers as we know them.
www.bloomberg.com
I’ve heard of stuff like that out west.
More often than not.
The part you call "wrong" are the things you don't want known.
With articles like this out there you would think FedEx would have to start moving pretty quickly on whatever plan there is. Express stations across the country are already horribly staffed in some locations, and with this news, it could get a whole lot worse.FedEx Overhaul Contemplates a Future With No Drivers on Payroll
FedEx Corp. is ripping up founder Fred S’s well-worn playbook as it rethinks virtually the entire business. That could mean the end of FedEx drivers as we know them.
I thought they actually said that was the least profitable.
Not a good time to be an express driver
