FedEx caps traditional pension, switc...

FedEx caps traditional pension, switches to cash balance plan

There are 53 comments on the WBIR Knoxville story from Feb 27, 2007, titled FedEx caps traditional pension, switches to cash balance plan. In it, WBIR Knoxville reports that:

FedEx Corporation of Memphis announced today it will cap the traditional pension plan in place for most of its employees.

Join the discussion below, or Read more at WBIR Knoxville.

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Nashville, TN

#43 May 4, 2012
I worked for Fedex for about 5 and a half years and quit about 18 years ago. For a while, I got pension statements, but haven't gotten anything in maybe 10-12 years.

I realize it's my responsibility to keep up with this pension, but I can't even figure out who to contact to get my address updated. Does my pension even still exist (granted, it wasn't much...but still)?

Any help/contact info would be appreciated. Thanks.
Colette Smith

Cordova, TN

#44 Jul 25, 2012
I have lost my home, my vehicle and am about to be evited. My pension wold help me at this time. However I am told that I cannot get anything until I am 55. I am now 48. Can anyone out there help?

New York, NY

#45 Sep 12, 2012
Colette Smith wrote:
I have lost my home, my vehicle and am about to be evited. My pension wold help me at this time. However I am told that I cannot get anything until I am 55. I am now 48. Can anyone out there help?
As Far as your can't touch your traditional pension until 55 and if you take it early, you will get less. If you have a 401k I believe you can take some of it out under certain conditions such as medical,education and what is called hardship withdrawal and being evicted would fall under that category.
As far as pension and retirement call (877) 963 - 3339 or for written inquires : FedEx Retirement Service Center;PO Box 980 Deerfield,IL 60015
laura randolph

Memphis, TN

#46 Dec 24, 2012
if when i leave fed ex. how does pension work. wil i be able t get it. im 45 at the time.

Sharon, MA

#47 Dec 26, 2012
brown sugar wrote:
im a manager and i would not give anyone a pension or benies i would give all the work to contractors, they work for less and fred smith do it .they cant do anything about it, now ups could cause they got a union . fred make everyone a contractor. hourly cant do anything about it .just do it ill laugh very hard . no union no voice fred thats why you dont have a union .profits 1st people last.ha ha ha!!!
Manager??? Really??? Then you should probably learn how to put a sentence together.

East Haven, CT

#48 Jan 6, 2013
Nuff Said wrote:
<quoted text>
This guy is in management? Where the hell did he go to skool ??
Nice punctuation.
Is that anything like school? Lol
No name

Barberton, OH

#49 Feb 18, 2013
FedEx will never go union! I know from inside knowledge they have groups from management that meet to discuss how to keep union out. The members in these groups are kept secret from employees and if they get word your talking union....your out on your can!!!

Oakland, CA

#50 Mar 22, 2013
bob wrote:
i worked 22 years at fedex and got terminated, will my penion be affected.
NO, being terminated will not affect your've
earned that...
a concerned courier

Newton Highlands, MA

#51 Apr 3, 2014
I've been at fdx for many of yrs and most if not all senior employees{25yrs up} worry about life after fdx because we all know the retirement that we get wont cover 1/4 of our living expenses...sure social security will help but working for 30-35 yrs at one place u would think it would be enough to make your retirement more comfortable...not at dx

Fairmont, WV

#54 May 13, 2016
Dina wrote:
I worked at FedEx for 16 yrs, then was terminated when I got carpel tunel, I'm almost 53 and would like to access my penson now. Any ideas how?
Yes call them had 16 years and left. Get my first check July 2016 took it earlier at age 55

Fairmont, WV

#55 May 13, 2016
Bub2222 wrote:
<quoted text>

Yes call them had 16 years and left. Get my first check July 2016 took it earlier at age 55
All I did was go online and sign up on the website for your pension and you can see what you have coming. Did it all online and pick what I wanted. If you give your wife a survivor's income there's no paperwork involved.

Roy, UT

#56 Dec 9, 2016
Blue Collar Pride wrote:
I agree with Joe Nuno about better wages, but I'm not sold on a union. Fed Ex is doing a great job of raising the most senior employees top-out pay, while hold everyone else's pay (18 years of service and less) to a tight range. People who have been drivers for 4 years are making the same as someone hired off the street!!! People who have been working for 15 years are not even close to topping out!!! That is the biggest gripe among most of the drivers!!
A union can change that, but along with a union comes a price, and I don't mean union dues!!! People who work hard and do more than is expected will get paid the same as the driver who does the least; I don't see that as much at this point. I do not believe in that, I still like performance based pay. Also, you start getting people crying, "That's not my job!!" when asked to do something a little extra.
I believe in Fed Ex Express, what it has done to change the package delivery business, and what it can still do. I see a lot of committed people[not mentally committed:)] but someone needs to talk to the senior management about the hourly compensation for us and allowing people to reach top-out pay.
I know UPS is so much bigger than us, but they still are making money; I can't believe that our costs for operating planes are more expensive compared to paying thousands of drivers $30.00 an hour plus what ever benefits they receive.
Our district mgr, Susan Sweat(Delta) came to pay us a visit and the discussion came around about pay, and from what I understand, she was pretty cynical about our pay. Either she didn't do a good job of defending the company line(which isn't defendable) or maybe she is really on our side, believing that the company could do more, but she can't express that.
I do appreciate that the company is reinstating matching the 401k plans. I know I can't go out and find another job making what I make now, but before we start looking to unions, we need to be organized internally, accumulating signatures on a petition to be sent to the executives stating that while we are committed, we request that our pay better matches what we do, and those close to top pay be allowed to receive it, and allowing the rest of us likewise.
I am going thru the same crap. Possibly and probally terminated after 23 years. Keepingme in limbo. Fedex is a great place if you dont work there. Care about profit first. Gotta go but i hope im gone from that shit firever. Happy peak

Bradenton, FL

#57 Dec 9, 2016
Mike Milken , abe foxman and the jonathan pollard clones of the AIPAC kosher nostra money laundries are bankrupting the USA

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