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 01-16-2016, 07:49 PM   #1  
Gets Weekends Off
Thread Starter
 
Joined APC: Dec 2005
Posts: 444
Default Fdx b fund

When can you remove your b fund money? Can you take it out anytime and pay the 10 percent penalty? After 59.5 without retiring? Or only after retirement.
viperdriver is offline  
Old 01-17-2016, 04:06 AM   #2  
Gets Weekends Off
 
Joined APC: Dec 2007
Position: Retired
Posts: 325
Default

Quote:
Originally Posted by viperdriver View Post
When can you remove your b fund money? Can you take it out anytime and pay the 10 percent penalty? After 59.5 without retiring? Or only after retirement.
It is my understanding that you can only get the B Fund after you retire. There may be a few exceptions. Check the Pilot Benefit Book for all of the rules.
Flyinhigh is offline  
Old 01-17-2016, 05:11 AM   #3  
Gets Weekends Off
 
MacGuy2's Avatar
 
Joined APC: Jun 2007
Position: Couch Potato
Posts: 470
Default

Quote:
Originally Posted by viperdriver View Post
When can you remove your b fund money? Can you take it out anytime and pay the 10 percent penalty? After 59.5 without retiring? Or only after retirement.
You can ONLY remove your B-fund money after you retire. Actually, I think it's 45 days after you retire.

You can remove your 401K money anytime. If you're less than 59.5 you will most likely pay a penalty (certain exceptions). If you're over 59.5 you can move it without penalty.

MG2
MacGuy2 is offline  
Old 01-19-2016, 04:39 AM   #4  
Gets Weekends Off
 
FedupFlex's Avatar
 
Joined APC: Jan 2009
Position: Disenfranchised Cost Center
Posts: 159
Default

You can do a "rollover" at age 59 1/2 into another retirement account with no penalty. If you need the money for something else before age 59 1/2, you can either "borrow" against it (check with you CPA and Vanguard). If you just want the money, get ready to pay the back taxes and penalties $$$$$$$.
FedupFlex is offline  
Old 01-19-2016, 08:05 AM   #5  
Gets Weekends Off
 
MD11HOG's Avatar
 
Joined APC: Apr 2006
Position: MD11 F/O
Posts: 639
Default

Quote:
Originally Posted by FedupFlex View Post
You can do a "rollover" at age 59 1/2 into another retirement account with no penalty. If you need the money for something else before age 59 1/2, you can either "borrow" against it (check with you CPA and Vanguard). If you just want the money, get ready to pay the back taxes and penalties $$$$$$$.
If you retire after 55, you can get the money with no penalties.
MD11HOG is offline  
Old 01-19-2016, 03:25 PM   #6  
Line Holder
 
champ42272's Avatar
 
Joined APC: Jul 2007
Position: B-767 Captain
Posts: 51
Default

The correct answer is that you can do an "in service rollover" of your 401k IF you're over 59 1/2.

I did this and I am glad I did.

The B fund (Money Purchase Plan) was not previously authorized for in service rollovers, however in the new contract. The MPP is going to be merged into the PRSP (401k), and in service withdrawals are authorized after age 62
(28. C. 5)

Champ 42272

Last edited by champ42272; 01-19-2016 at 03:35 PM.
champ42272 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
FDX Jan 15 B fund contribution max8222 FedEx 35 12-29-2015 04:43 PM
scam using FDX name NotsoFast Cargo 11 05-14-2010 05:21 AM
FDX -- nice easter bonus NoHaz Cargo 6 04-04-2010 09:21 PM
What's the best way to get a job w/ FDX? Laxrox43 Cargo 77 06-05-2008 08:28 AM
AGA 60 and Retirement Busboy Cargo 110 09-18-2007 05:41 PM


All times are GMT -8. The time now is 05:54 AM.