FDX - Mil Leave and PMPP/PRSP
10-26-2009 | 01:51 PM
#1
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From: MD
FDX - Mil Leave and PMPP/PRSP
I recently started a long term (3 years+) mil leave, and am considering what to do, if anything, with my PMPP/PRSP accounts.
Specifically looking for any hidden advantages in leaving them alone, or drawbacks to rolling them into another investment, since I'm obviously not contributing to them at the moment.
Mostly just curious as to what other guys on long mil leaves have done/are doing.
Specifically looking for any hidden advantages in leaving them alone, or drawbacks to rolling them into another investment, since I'm obviously not contributing to them at the moment.
Mostly just curious as to what other guys on long mil leaves have done/are doing.
10-26-2009 | 09:36 PM
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From: Gear Monkey
10-27-2009 | 04:05 AM
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From: Retired
You might want to check with Vanguard, as I think that you have the ability to gain access to your FEDERAL EXPRESS CORPORATION PILOTS' RETIREMENT SAVINGS PLAN funds. You can invest those funds in any of the Vanguard funds, not only the funds in the FedEx plan. As well (again, I believe that) you have the ability to move those funds to any other investment house of your choice. A word of caution here, do not under any circumstance, ask for a check for the proceeds of your fund, because if you do, you will then be responsible for the associated tax that your savings have produced. Instead, open an account with the other company and then have Vanguard forward your funds to your new account.
JJ
JJ
Last edited by Jetjok; 10-28-2009 at 03:28 AM.
10-27-2009 | 05:29 AM
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From: MD11
JJ
You will recieve money into your B fund when you return for the credit hours you would have flown will on mil leave. I did a year of mil leave and recieved a nice big deposit into my vanguard account roughly 2 months after coming back. The people at vanguard know what its based on. You will not accure leave while out. I strongly suggest talking to our outstanding union Mil rep. he has great info and can help you out. There is some grivence issues filed and won regarding this issue. SM can help you out. PM me if I can help also.
TB
You will recieve money into your B fund when you return for the credit hours you would have flown will on mil leave. I did a year of mil leave and recieved a nice big deposit into my vanguard account roughly 2 months after coming back. The people at vanguard know what its based on. You will not accure leave while out. I strongly suggest talking to our outstanding union Mil rep. he has great info and can help you out. There is some grivence issues filed and won regarding this issue. SM can help you out. PM me if I can help also.
TB
10-27-2009 | 10:55 PM
#6
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From: I never did mind the little things.......
Incorrect
As for "What pay are these contributions based on if these pilots are not actively flying at FEDEX?", the answer is none. Contributions are made based on earned income. However, that said, contributions will be made to your FEDERAL EXPRESS CORP. PILOTS' MONEY PURCHASE PENSION PLAN, when you get paid for your vacation that you earned in the previous year. So, next year when you receive a check for the vacation you earned this year, the Company will make its normal contribution to your PMPRP.
JJ
JJ
I don't know about the rest of his quote, but this statement is totally wrong. Read your contract and contact union military rep.
10-27-2009 | 11:00 PM
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From: Bidding Time Off
Fish
10-28-2009 | 03:27 AM
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From: Retired
Guys,
Sorry for the bad poop. I was assuming that Mil Leave would be treated much the same as LTD. Tractor Bob had PM'd me yesterday, and when I read his post, I'd just thought everyone would understand my error, and so I didn't edit my post.
Again, sorry for the bad information.
JJ
Sorry for the bad poop. I was assuming that Mil Leave would be treated much the same as LTD. Tractor Bob had PM'd me yesterday, and when I read his post, I'd just thought everyone would understand my error, and so I didn't edit my post.
Again, sorry for the bad information.
JJ
