Pilot Benefit Book
Retirement: Pilots’ Retirement Savings Plan (PRSP): Eligibility for Plan Participation

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Eligibility for Pre-tax/401(k), After-tax, and if Eligible, Catch-up and Rollover Contributions -- If you are employed by FedEx Express, you can begin making Pre-tax/401(k) contributions, After-tax contributions, and if eligible, Catch-up contributions and Rollover contributions on your Plan Entry Date. Your Entry Date is the first day of the month coincident with or next following:

Your attainment of age 21; and
Your completion of 6 months of employment with FedEx Express or another Controlled Group Member. (For a list of Controlled Group Members, see "Scope and Guidelines")
Eligibility for Employer Matching and Employer Sick Bank Contributions -- If you are employed by FedEx Express, you are eligible to receive Employer Sick Bank Contributions and Employer Matching contributions on your Pre-tax/401(k) contributions on the first day of the month coincident with or next following:

Your attainment of age 21; and
The first anniversary date of your employment if you are credited with at least 1,000 hours of service during your first year of employment. If you do not complete 1,000 hours of service during your first employment year, you may do so during any Plan Year starting with the first Plan Year beginning after your date of hire; you are eligible to receive Employer Matching and Employer Sick Bank contributions on January 1 next following the Plan Year during which you were credited with at least 1,000 hours of service.
Hours of Service -- Hours of service include each hour that you are paid or entitled to pay by FedEx Express, including time off for vacation, holidays, medical absences, jury duty or military duty as required by law.

Hours associated with non-taxable amounts paid from a Pilot's Occupational Illness/Injury Sick Bank shall be counted as hours of service for eligibility, vesting and benefit accrual.

This does not include hours you are paid or entitled to pay just to comply with:

Unemployment compensation laws,
Disability insurance laws,
Payment made for medical expense reimbursement,
Service during hours of family medical leaves (except for the first 501 hours, which may be used to prevent a one-year break in service).
Hours credited by the Payroll Department are used in determining credited service while actively at work. The Payroll Department credits active pilots with 95 hours per pay period.

Pilots receive credited service for periods of disability which are calculated as follows:

Days of Leave ÷ 7 Days x 45 Hours = Total Credited Hours per Leave

If you are an individual who, on or after June 1, 1992, first becomes eligible for a disability benefit under the terms of the Federal Express Corporation Short Term Disability Plan or the Federal Express Corporation Long Term Disability Plan (as such plans may exist from time to time) or who becomes entitled to receive Workers' Compensation benefits, hours of service shall be credited to you as if your hours of service had been continually credited during the period of such benefit entitlement up to your normal retirement age, or if greater, and to the extent required by law, for the period for which you qualify for such benefits.