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Federal Express Retirees
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Unionman76 Offline
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Post: #1
Federal Express Retirees
so much for being a fedex retiree

they just kicked 41,000 retirees off their books

they are no longer a Pension Plan participant

Fedex purchased a $6 billion annuity from Metlife to cover the program

so, you say what is the problem

The Pension Plan was protected by the Pension Benefit Guaranty Corporation.
The Metlife annuity is protected by your local state National Organization of Life and Health Insurance Guaranty Associations.

Different limits.

Interesting set of limits that were imposed as to who was sold out in the Metlife Program

- Flying tiger employees were excluded
- Active and retired pilots were excluded
- Employees with monthly retirement benefits over a certain dollar amount were excluded (looks like they were protecting management)
05-14-2018 11:44 AM
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tigerich Offline
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Post: #2
RE: Federal Express Retirees
Got my notice today. Not real happy.
05-14-2018 02:22 PM
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Unionman76 Offline
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RE: Federal Express Retirees
i assume they are trying to manipulate their balance sheet numbers

the risk is which company will go belly up first, fedex or metlife
if neither do, then the numbers should be the same

fedex outstanding pension number is around 28 billion, so the 6 billion is only a piece of their responsibility
05-14-2018 03:04 PM
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Guitarman Offline
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RE: Federal Express Retirees
Told someone the other day I shouldn't have left in the 90's and hit the dot com craze. Now I don't regret my decision.
05-14-2018 04:49 PM
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Cletus Offline
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RE: Federal Express Retirees
(05-14-2018 04:49 PM)Guitarman Wrote:  Told someone the other day I shouldn't have left in the 90's and hit the dot com craze. Now I don't regret my decision.

Jimmy?

.
05-16-2018 06:27 PM
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dcg141 Offline
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RE: Federal Express Retirees
I left in the 90's and started my own business. I got a pension settlement last year that I considered more than fair. I took it in one lump sum and rolled the entire amount into an IRA.
05-16-2018 06:58 PM
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Guitarman Offline
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RE: Federal Express Retirees
(05-16-2018 06:27 PM)Cletus Wrote:  
(05-14-2018 04:49 PM)Guitarman Wrote:  Told someone the other day I shouldn't have left in the 90's and hit the dot com craze. Now I don't regret my decision.

Jimmy?

.

No sir
05-16-2018 09:11 PM
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Guitarman Offline
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RE: Federal Express Retirees
(05-16-2018 06:58 PM)dcg141 Wrote:  I left in the 90's and started my own business. I got a pension settlement last year that I considered more than fair. I took it in one lump sum and rolled the entire amount into an IRA.

Same here. Been in business for 18 years now out on my own but I never got a settlement. Glad you did!!
05-16-2018 09:12 PM
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Unionman76 Offline
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RE: Federal Express Retirees
(05-16-2018 06:58 PM)dcg141 Wrote:  I left in the 90's and started my own business. I got a pension settlement last year that I considered more than fair. I took it in one lump sum and rolled the entire amount into an IRA.

i did that with my portable piece

thought i could get better than their 4 % return
05-17-2018 06:45 PM
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dcg141 Offline
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RE: Federal Express Retirees
(05-16-2018 09:12 PM)Guitarman Wrote:  
(05-16-2018 06:58 PM)dcg141 Wrote:  I left in the 90's and started my own business. I got a pension settlement last year that I considered more than fair. I took it in one lump sum and rolled the entire amount into an IRA.

Same here. Been in business for 18 years now out on my own but I never got a settlement. Glad you did!!

I kept giving them my updated address and got notifications over the years. Possibly they lost contact with you. I would contact them and inquire.
05-17-2018 08:18 PM
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karter25 Offline
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Post: #11
RE: Federal Express Retirees
(05-17-2018 06:45 PM)Unionman76 Wrote:  
(05-16-2018 06:58 PM)dcg141 Wrote:  I left in the 90's and started my own business. I got a pension settlement last year that I considered more than fair. I took it in one lump sum and rolled the entire amount into an IRA.

i did that with my portable piece

thought i could get better than their 4 % return

There are better returns out there but 4k a year return is nice to have with basically zero risk. You won't get rich but no chance of 2008 disaster either.
05-17-2018 09:27 PM
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