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Airline Pilot Central Forums (https://www.airlinepilotforums.com/)
-   Delta (https://www.airlinepilotforums.com/delta/)
-   -   FedEx pension (https://www.airlinepilotforums.com/delta/125477-fedex-pension.html)

Abouttime2fish 11-19-2019 10:52 AM
FedEx pension
 
According to ALPA daily it’s gone for anyone hired in 2020 and on.

HappyTrails 11-19-2019 10:57 AM
Non pilot, old news. Fedex pension is in their CBA, they would have to negotiate it away.

Abouttime2fish 11-19-2019 11:09 AM
Makes sense. Article just said ‘employees’

marcal 11-19-2019 06:52 PM
I believe the FedEx pilot pension is capped at a max of $120K/yr. while nice today, over time with inflation it will be worth much less.

Ar Pilot 11-19-2019 07:26 PM
Originally Posted by marcal (Post 2926733)
I believe the FedEx pilot pension is capped at a max of $120K/yr. while nice today, over time with inflation it will be worth much less.
That’s why they also get 8% DC on top of their pension

m3113n1a1 11-19-2019 07:34 PM
Originally Posted by Ar Pilot (Post 2926749)
That’s why they also get 8% DC on top of their pension
I'd still prefer 16% (really should be 20) DC and no pension.

Flying Boxes 11-19-2019 07:39 PM
For Information Only
 
Originally Posted by marcal (Post 2926733)
I believe the FedEx pilot pension is capped at a max of $120K/yr. while nice today, over time with inflation it will be worth much less.
Max benefit is $130K (2% per YOS-Max 25 YOS of $260K, $260 is a CBA limit), but reduced if taking the Survivors Benefit for spouse. Reduction depends on variables such as spouses age.

B Fund goes to 9% next on 1 Jan 2020.

iHateAMR 11-19-2019 07:40 PM
Originally Posted by marcal (Post 2926733)
I believe the FedEx pilot pension is capped at a max of $120K/yr. while nice today, over time with inflation it will be worth much less.
130k

Originally Posted by Ar Pilot (Post 2926749)
That’s why they also get 8% DC on top of their pension
9% starting this January I believe.


Originally Posted by m3113n1a1 (Post 2926754)
I'd still prefer 16% (really should be 20) DC and no pension.
Your average FedEx pilot would earn higher wages earlier in their career to max out their B fund/401k contribution max at the 9% rate, leaving it basically the same as the 16% Delta B fund contributions, annually. With no cash over cap provision, Delta pilots keep their money today, FedEx pilots get the 130k every year in retirement, and even more if deferred.

80ktsClamp 11-19-2019 08:07 PM
Originally Posted by iHateAMR (Post 2926759)
130k



9% starting this January I believe.




Your average FedEx pilot would earn higher wages earlier in their career to max out their B fund/401k contribution max at the 9% rate, leaving it basically the same as the 16% Delta B fund contributions, annually. With no cash over cap provision, Delta pilots keep their money today, FedEx pilots get the 130k every year in retirement, and even more if deferred.

This actually further illustrates the absolute stupidity of the 2012 and 2015 pushers for trading PS for pay rates.

HappyTrails 11-20-2019 02:04 AM
Originally Posted by m3113n1a1 (Post 2926754)
I'd still prefer 16% (really should be 20) DC and no pension.
Really? There is no comparison (as long as pension is solvent). To each his own though.


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