Retiring before 62?
 

If you are interested in retiring before 62 there is an important cash benefit(unqualified plan) that most guys are unaware of. I'm not sure who is eligible. But, if you delay benefits till 62, you may be entitled to a one time lump sum payment when you turn 62. I am retiring at 60 and mine will be 137K. When a sharp F/O (Mike B) told me about it, I was more than skeptical. Here's how to check your elegibility/amount. Go to =AT1kRDYgUTYKoMzLDGXLWJiZNZ3vkUcoGBGdnw-9ufv1d6ylJZP0nYjnd0fr4gUmNGwz5ugli0vHfpik3507Z1VEF sgx_aJ1TLlWqmftMLZZCQcbdqSbYzUpFI57rke-bDgHJzJv47feuU4tmNPQ8aHSVNwri4EzJLAUYwE]retirement.fedex.com , 1.select access your pension benefits 2.project your pension income 3. Fill in projection assumptions and hit calculate. select non-quailfied plan in[ benefit } box with the little arrows in the box and scroll down to Late retirement LS.

Link doesn't work

I'd love to be able to see this. Please try again with the link.

Probably a link to an investment firm.

He posted on JetFlyers as well.

Any idea if this is only applicable to those who have reached their full 25 years by age 62 or can anyone do it?
Not on JF, so is there a working link available?

trying to not make it a link
 

the website is retirement.fedex.com, (retirement dot fedex dot com) sorry about the bad link, I didn't preview post

I'd check with the union about this. I thought our retirement was governed exclusively by the CBA. If this isn't in the CBA I'll bet they don't consider us eligible. Hope I'm wrong.

Its not showing up on my benefit projection and I'm fully vested. There is no "late" retirement option.

If anyone thinks that the information in the CBA is inclusive of our retirement then there is a ton of learning that needs to occur. That is exactly what I thought until I attended a retirement seminar and then I said "where did all this info come from". Why don't I know any of this? It's in the pilot benefit book. You know the one you opened in indoc and then put on a shelf somewhere never to be opened again. There is a big chapter on retirement and if you only know the contract now, there is a long learning curve. Going into the retirement seminar I thought I probably understood 80% of our retirement and looked forward to learning a bit more. I left thinking I really only understoood 20% going into the seminar and maybe I now know 50%. That is just the finance side. The medical side just melted my brain. 30 minutes into the medical portion I felt like Charlie Brown listening to his teacher. Whaa Whaa, Whaa Whaa Whaa!

I think they might have changed the format of the online pages. It all looks different since the last time I saw this. The link is https://digital.alight.com/fedex/ . Sign in and then go to "Project your Pension Benefit". Then fill in the right side. Chose age 60 date as retirement termination, then chose age 62 as Benefit Commencement Date. Then Calculate. That will show you all the different options and what your pay would be. There is no change to your monthly/yearly benefit if you retire prior to age 62 and defer. Age 62 is the FDX pilot standard retirement age as of the 2015 CBA. In order to see the non-qualified portion of your retirement you have to change the dropdown selection near the top below "Pension Forms of Payment". Remember the non-qualified portion is because we used to have our pension cap above the IRS limit, which means that is non-qualified. Then you can see your payout for deferment. I'm not sure how accurate this number is as the retirement seminar said that if you defer for two years (age 60 to 62) then the payment was $211 I think. Not sure where the discrepancy might be. But you can get an idea of what the OP was talking about.

Spot on, Thanks!