Notices

FedEx pension

Old 11-19-2019, 10:52 AM
  #1  
Gets Weekends Off
Thread Starter
 
Abouttime2fish's Avatar
 
Joined APC: Jul 2014
Position: MD88
Posts: 1,351
Default FedEx pension

According to ALPA daily it’s gone for anyone hired in 2020 and on.
Abouttime2fish is offline  
Old 11-19-2019, 10:57 AM
  #2  
Banned
 
Joined APC: Dec 2018
Posts: 32
Default

Non pilot, old news. Fedex pension is in their CBA, they would have to negotiate it away.
HappyTrails is offline  
Old 11-19-2019, 11:09 AM
  #3  
Gets Weekends Off
Thread Starter
 
Abouttime2fish's Avatar
 
Joined APC: Jul 2014
Position: MD88
Posts: 1,351
Default

Makes sense. Article just said ‘employees’
Abouttime2fish is offline  
Old 11-19-2019, 06:52 PM
  #4  
Gets Weekends Off
 
Joined APC: Sep 2005
Posts: 1,104
Default

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.
marcal is offline  
Old 11-19-2019, 07:26 PM
  #5  
Gets Weekends Off
 
Joined APC: Apr 2010
Posts: 595
Default

Originally Posted by marcal View Post
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
Ar Pilot is offline  
Old 11-19-2019, 07:34 PM
  #6  
Gets Weekends Off
 
Joined APC: Apr 2018
Posts: 2,934
Default

Originally Posted by Ar Pilot View Post
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.
m3113n1a1 is offline  
Old 11-19-2019, 07:39 PM
  #7  
Gets Weekends Off
 
Flying Boxes's Avatar
 
Joined APC: Sep 2006
Posts: 550
Talking For Information Only

Originally Posted by marcal View Post
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.
Flying Boxes is offline  
Old 11-19-2019, 07:40 PM
  #8  
Gets Weekends Off
 
iHateAMR's Avatar
 
Joined APC: Jan 2018
Position: FO
Posts: 180
Default

Originally Posted by marcal View Post
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 View Post
That’s why they also get 8% DC on top of their pension
9% starting this January I believe.


Originally Posted by m3113n1a1 View Post
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.
iHateAMR is offline  
Old 11-19-2019, 08:07 PM
  #9  
Da Hudge
 
80ktsClamp's Avatar
 
Joined APC: Oct 2006
Position: Poodle Whisperer
Posts: 17,473
Default

Originally Posted by iHateAMR View Post
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.
80ktsClamp is offline  
Old 11-20-2019, 02:04 AM
  #10  
Banned
 
Joined APC: Dec 2018
Posts: 32
Default

Originally Posted by m3113n1a1 View Post
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.
HappyTrails is offline  
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
WallyF4
Military
24
04-02-2018 11:47 AM
Precontact
Cargo
73
09-28-2009 07:54 AM
nightrider
Cargo
39
03-28-2009 06:26 AM
angry tanker
Cargo
91
03-08-2007 08:56 AM
Freighter Captain
Cargo
3
05-16-2005 06:00 PM

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Thread Tools
Search this Thread
Your Privacy Choices