Sleepyflyer

Oops, sorry

You guys are probably right, I have never seen them before, but I guess I never look that hard for them. I'm one of those guys that the glass is always have empty. Of course when it gets there, its time to order another beer.

TheBaron

The question shouldn't be why PC sent out an FCIF to clarify the earlier FCIF's, buy why JL felt it was necessary to send out the originals in a way that hasn't been done in the past. Is he stirring the pot?

MalteseX

I can't see your FCIFs--- but for Rule/Section 401 of the IRS codes, a company or an entity that manages retirement funds under these sections has to send an application to the IRS periodically for their review to see if the plans are meeting the criteria of 401..... (I know this from a former life; I helped manage a company's retirement plan)..... additionally you have to notify the employees affected.... (we did it on a breakroom bulletin board right by the time card machine).

It sounds like FedEx managers responsible for the plans decided to put this out in your "FCIF" vs a bulletin board or email etc. But from reading this, it sounds like it is a routine, periodic IRS filing.

There is one catch--- if you wanted to CHANGE something in the plans, you also have to follow this procedure. You guys have a right to get a copy of the application. If I were you I'd look at it to see if it were merely a PERIODIC update, or an attempted CHANGE (to the plan). Either way, you can get copies of the apps (and if I remember, you can send comments to the IRS as well)

HoursHore

Me thinks they enjoy the chicken little response that ensues from this board.

Toccata

OK - got me curious. I never remember receiving a copy of the correspondence from FedEx to the IRS like the recent FCIF's.

Went through all my mailings regarding retirement info back to 2000. I'm a packrat, and rarely throw anything away (which my wife absolutely hates).

We always get annually, from FedEx, a "Summary Annual Report" for the Pension Plan, the Money Purchase Pension Plan, and the Retirement Saving Plan for either the fiscal year, or the calender year (depending on the plan). We also get a "...statement of estimated accrued benefit...", which is based on the assumption of the benefit beginning the first month after your 60th birthday.

I did not find anything resembling the recent FCIF's. I'll go back to 1995, but wonder if anyone has found anything yet (if anyone besides me has been looking....) Maybe it gets posted somewhere, but I don't think we've ever received a 'warning shot across the bow' like the FCIFs.

Personally, I don't think the company wants to find out 5 years up the road they owe a bunch of additional taxes. And, if these plans lose, or get reduced, IRS eligibility, they've just become a bigger piece of that "pie" for 2010.

FDXLAG

Could not tell you where I have seen it for sure. I chuck everything. I have seen it though; maybe in the new hire package or in the Pilot Benefit book. Maybe in past FCIFs. I think I remember opening the mail and saying what a waste of a stamp after reading it last time. I mean after all I have ALPA looking after me why should I sweat my retirement. Eventually I hope to be one if the 1% ALPA cares about.

Busboy

Hey, if you care about yourself... Part of ALPA cares.

Daniel Larusso

Wouldn't happen as much with better comm from you know who.................

nitefr8r

I get a paper copy of a petition most every year for various changes that are requested for the variety of Flying Tiger Retirements. I can't recall a single one that was terribly serious (after the first ones when we were bought anyway). Most had to do with funding and over funding of the funds.

Call or drop a note to the R and I committee and demand an explanation. They're supposed to know how to translate things into pilot talk.