Originally Posted by
boxboy
A little example a mechanic who has been here 20 years and is 55 years old.
Has a high 5 or 100K per year was expecting 50K per year at retirement age of 60. He will now be lucky to get 40K per year a 20% reduction over a lifetime. You can't recover from that.
No but if he can put 10% of the next 5 years 100K into a good 401K he can recover a lot of it and it is his money. Or his trophy wife's money if he (or fred) keels over at 61. Defined Benefit plans are going away I am glad FEDEX is taking positive financial step to improve their bottom line 15-20 years from now.