Connect and get the inside scoop on Airline Companies

Welcome to Airline Pilot Forums - Connect and get the inside scoop on Airline Companies

If this is your first visit, be sure to check out the FAQ. Join our community today and start interacting with existing members. Registration is fast, simple and absolutely free.


User Tag List

Post Reply
 
Thread Tools Search this Thread Display Modes
Old 09-30-2019, 01:24 AM   #31  
Gets Weekends Off
 
JetJocF14's Avatar
 
Joined APC: Sep 2006
Position: B-777 Captain
Posts: 920
Default

[QUOTE=Jetjok;2889701]However, I believe that if you select No Survivor Benefit, your spouse has to sign off on that selection.

That is absolutely correct. If that is the option you chose FedEx will send you a legal form that you AND your wife must sign and have notarized. You both acknowledge that when your pilot spouse dies FedEx is completely done with you. Oh and you can’t give a wink wink saying sure my wife is on board with this. Notarized legal document. Retiring 12-17-2019.
JetJocF14 is offline  
Old 10-06-2019, 08:36 PM   #32  
New Hire
 
Joined APC: Jul 2019
Posts: 2
Default

Is there a minimum retirement age to qualify for the pension?

Reading the contract there seemed to be... or does your pension just start when you turn 60 regardless of when you actually retired, assuming you have the 5 years of vesting?
35alpha is offline  
Old 10-07-2019, 03:08 AM   #33  
Gets Weekends Off
 
Joined APC: Aug 2006
Posts: 948
Default

Quote:
Originally Posted by 35alpha View Post
Is there a minimum retirement age to qualify for the pension?

Reading the contract there seemed to be... or does your pension just start when you turn 60 regardless of when you actually retired, assuming you have the 5 years of vesting?

You take a penalty for each year you retire before age 60. If you retire early enough, the penalty could erase the retirement.
pinseeker is offline  
Old 10-07-2019, 05:45 AM   #34  
Gets Weekends Off
 
KnightFlyer's Avatar
 
Joined APC: Aug 2006
Posts: 1,415
Default

Quote:
Originally Posted by 35alpha View Post
Is there a minimum retirement age to qualify for the pension?

Reading the contract there seemed to be... or does your pension just start when you turn 60 regardless of when you actually retired, assuming you have the 5 years of vesting?
The earliest you can retire is 55 with 5 years of vesting. You can start it at 55. 3% hit per year before age 60. If you have your high five and 20 years of service, at 55 the max retirement is ((20*2%)*$260000)*.85 or $88,400 w/o any joint survivorship. You can defer the start of pension payments to increase the benefit.

Better explanation in the Pilot Benefit Book.
KnightFlyer is offline  
Old 10-07-2019, 06:37 AM   #35  
Gets Weekends Off
 
kronan's Avatar
 
Joined APC: Nov 2005
Position: 757 Capt
Posts: 2,010
Default

There are benefits to deferring the pension. To include the elimination of the 3% Penalty if you retire prior to 60.

In addition to the increased Pension $$, delaying a year or two allows either withdrawing or converting Traditional IRA\401k $$'s at a lower tax rate.

Whether that's beneficial or not is certainly debatable.
Shoot, if you have enough cash built up, might even allow you to pull some capital gains out of a taxable account at the 0% tax rate.
kronan is offline  
 
 
 

 
Post Reply
 



Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes


Related Topics
Thread Thread Starter Forum Replies Last Post
Why I chose FedEx WallyF4 Delta 60 02-25-2018 09:56 AM
Retirement Issues (again) Ottolillienthal United 0 04-21-2012 05:55 AM
NJA vs FDX charleyvarrick Cargo 34 08-27-2011 12:10 PM
FedEx Companies vagabond Cargo 15 03-18-2007 04:50 PM
FedEx Corporation cub pilot Cargo 72 05-27-2006 05:02 AM


All times are GMT -8. The time now is 02:32 AM.