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Old 12-13-2017, 07:47 PM   #121
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Quote:
Originally Posted by Raptor View Post
Take a look at the Pilot Benefit Book page R-24.

Survivor Benefits
In some cases, a beneficiary will receive benefits after your death.

If you die on or after your Benefit Commencement Date, benefits, if any, will be paid

to your beneficiary based on the form of payment you selected when you retired.

If you die before your Benefit Commencement Date and:
• You are unmarried, no benefits are payable to a beneficiary. However, your
beneficiary(ies), while not entitled to survivor benefits from the Pension Plan, may
be eligible to receive benefits under the FedEx life insurance plans and other
retirement plans. Refer to the “What to Do When” chapter beginning on page W-1
for more information.
• You are married, a portion of your vested benefit will be paid to your spouse
monthly. Your surviving spouse will receive a monthly pension based on your
credited service for benefit accrual and Average Earnings on your date of death.
The benefit will be calculated as if you had chosen the Joint and Survivor Annuity

with 50% of your benefit continuing to your spouse.

The last bullet shows your spouse gets a benefit if you die before retiring.
Which, if the pilot had 25 years and had an Hi 5 avg of 260, would be 50% of his/her $130k. This would be $65k per year, the same as if he died right after retirement with the 50% survivor option.
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Old 12-14-2017, 03:31 AM   #122
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Originally Posted by fdx727pilot View Post
Which, if the pilot had 25 years and had an Hi 5 avg of 260, would be 50% of his/her $130k. This would be $65k per year, the same as if he died right after retirement with the 50% survivor option.
The only way a FedEx pilot can retire and receive $130,000 is to retire with no survivor benefit. I only had 24YOS when I retired so my FedEx portion of my pension was under $130,000. I recall my pension was reduced around $1400 a month for the 50% survivor benefit. The amount you pay is based on the age of your spouse. Very young wife, very high price. I would guess the max pension a married FedEx pilot can get is around $115,000 not $130,000. There are about eight different options of how you receive your pension. Every option reduces the single life payout. Your spouse has to approve all the available options, except the 50% Survivor Benefit.
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Old 12-14-2017, 05:51 PM   #123
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Or defer for a year....
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Old 12-15-2017, 07:24 AM   #124
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Old 12-15-2017, 10:04 AM   #125
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How do they get around the IRS limit for earnings on DB plans? What about the IRS limit on yearly DB payout?
we don't. the post about no cap limits on the A plan is incorrect imo.

here is a cut n paste of the contract reference:

A crewmember’s final average earnings will be limited to the lesser of:
(1) the legal limits in effect at time of retirement; or
(2) $300,000.
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Old 12-15-2017, 10:12 AM   #126
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Originally Posted by Airbum View Post
we don't. the post about no cap limits on the A plan are incorrect.

here is a cut n paste of the contract reference:

A crewmember’s final average earnings will be limited to the lesser of:
(1) the legal limits in effect at time of retirement; or
(2) $300,000.
Thank you for the correction on that...I don't wish to spread bad info and clearly I hadn't delved far enough into Article 15.

15.D.8.b.(2) is the limiting factor as a contractual FAE earnings cap of $300k for UPS/IPA pilots provides a 30 year length of service benefit of $90k, whereas the IRS limit for a defined benefit plan is $220k.
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Old 12-15-2017, 10:16 AM   #127
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Originally Posted by Sluggo_63 View Post
He also forgot to add that the Flat Dollar of $4,000 is for Captains. F/Os only get $3,200. I guess we’re good with paying F/Os less in retirement, too...

I think the Flat Rate Benefit (FRB) is a great deal for those junior. A guy can stay a F/O all his career upgrading too fly only one trip as a Captain and get the same FRB as someone who was a captain for 30 years.

The FAE retirement plan produces a smaller retirement paycheck for the same crew member.

Last edited by Airbum; 12-15-2017 at 10:18 AM. Reason: ?
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Old 12-16-2017, 06:03 AM   #128
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I think the Flat Rate Benefit (FRB) is a great deal for those junior. A guy can stay a F/O all his career upgrading too fly only one trip as a Captain and get the same FRB as someone who was a captain for 30 years.

The FAE retirement plan produces a smaller retirement paycheck for the same crew member.
But who wants to do that? Go to base for upgrade training for a few months to only fly one trip as a captain? What a waste of time, effort and money. And what if someone medicals out before they get the chance? Then their retirement is permanently affected.

I don't see making FO's have a forced lower retirement to be a good deal.
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Old 12-17-2017, 06:27 AM   #129
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But who wants to do that? Go to base for upgrade training for a few months to only fly one trip as a captain? What a waste of time, effort and money. And what if someone medicals out before they get the chance? Then their retirement is permanently affected.

I don't see making FO's have a forced lower retirement to be a good deal.
I think we are discussing two different issues.

A, which plan pays out more to the junior crew member unable to upgrade until late in their career

B. should Capt and FO receive the similar retirement benefit.

I wanted to add a little about UPS's retirement to help FedEx guys compare because certainly what you all do will effect us in our contracts.

To discuss the topic B we should start a new thread.
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Old 12-17-2017, 05:09 PM   #130
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I think we are discussing two different issues.

A, which plan pays out more to the junior crew member unable to upgrade until late in their career

B. should Capt and FO receive the similar retirement benefit.

I wanted to add a little about UPS's retirement to help FedEx guys compare because certainly what you all do will effect us in our contracts.

To discuss the topic B we should start a new thread.
Okay, I understand what you're saying.
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