Tuesday, March 6, 2012

My Annual Disappoint Letter From FedEx

I recently received my information packet for my pension. From my Viking/ FedEx pension I will be receiving $648/ month. And up to now I will be receiving $55/ month for FedEx’s PPA (Portable Pension Account). That’s a grand total as of now $703/month.

Now I still have my 401k which I won't add for now because I’m 53 years old now. And have at least 12 more years to retire. And if the market takes a dump, so might my 401k!

Now when we retire from FedEx, we will not have any medical benefits. Which we will have to purchase on our own. I had to get my daughter medical coverage a few years ago, because she wasn't taking enough credit while she was going to college. It was going to cost me $399/ month! Thank goodness for Obama care which FedEx has to cover our kids who go to college to the age of 26 yrs of age?

With that in mind, it costs more to cover yourself and your spouse under COBRA around $500 each a month. My so called FedEx pension is $703/month minus $1000/month. That leaves with $-297/month, to pay a mortgage, food, med's, gas, etc. get the point.

And all our managers say, you don't need a teamsters contract, because they we know better for you!

If this alone, doesn't make you think that we need to organize FedEx nothing will. Enjoy your second job at Wal-Mart when you retire. So you could just survive your golden years!

I ask you now FedEx, "WHEN WILL THE GREED STOP?"

Rudy Hernandez
FedEx city driver sbo

15 comments:

fyi said...

i've talked to some union drivers and they have told me that in their contract, they will have medical benefits until they die and if their spouse survive them, the spouse will have medical benefits until they pass.

hand me a card to sign now!

Anonymous said...

I feel the same way..I had three paint scratch and one ticket in my car all staring in 2007 2009 2010 then in Feb 17 2012 i had a roll away . I pulled out from my two trailers and set the trailer brake and not the parking brake ,the tractor roll about twenty feet,no damage done, FedEx took away my Benefit,vacation and cut my pay to part time dock worker with out warning. I know of at lest five drivers that were warned before anything happen to them if they got a fifth accident ,(that's what FedEx calls an accident, a paint scratch in the yard) they were given the opposition to work the dock with full drivers pay, I was not give that opportunity,I'm 58 years old and can't live on $200.00 a week. What they did to me was not fare...Scott

Anonymous said...

my father worked for the teamsters for 19 years and got disabled, his pension is $350 a month

Anonymous said...

I would rather have the Teamsters pension than the Fedex one. I don't trust Fedex for shit. We need to vote the Union in now before they rape us to death and fire all of the full timers.

Anonymous said...

heres my comment to fedx ,,,terminated for urinating between a shitload of parked trailers at del point was not able to use restroom at del point waited over 20 min in tractor not allowed on dock i could not wait when i left there so pulled over to go...some one blew me in,,thankyou very much ...8 years and they decide to terminate me,,,that sucks real bad
thanks fedx freight

Anonymous said...

fedx just sucks they should have suspend you not terminate ,,,wait til this gets out this make them look stupid,,,soorry man

Anonymous said...

WOOW FEDX JUST DONT CARE,,,UNREAL

Anonymous said...

I been with Fedex for 18 years, and l never seen the employees and management so against each other like it is now . Union is in the future for sure....

Anonymous said...

They are giving you a free pension when you retire. Most companies hand you your last paycheck when you leave. If you are getting $700+ from FedEx then you are getting $700+ of free money.

shafted byGFT said...

I've been at FedEx for 2yrs, had a rollaway on an old Sprinter 500 dollars damage which is an occurrence not and accident. Another driver on my same station had a rollaway accident 3,000 in damages, he was able to keep the job, I was fired.
if the go according to handbook he should gotten fire also. He is Caucasian, I am Hispanic. Go figure!! Any Lawyers??

Anonymous said...

What was the circumstances of the two accidents and how long has the other driver been employed at fedex?

Anonymous said...

What was the circumstances of the two accidents and how long has the other driver been employed at fedex?

Anonymous said...

Just found out that my Portable Pension was converted from a cash balance to a "notional" balance.

When I looked up "Notional", I found it means Imaginary.

When I was told that my Pension was accruing 4% interest, I thought that was pretty good in today's world.

What I didn't know was the value of my Pension is reduced by the amount of interest that it earns. That sounds so incredibly counter-intuitive - but that's what a "Notional" account is all about.

When I asked for an historical accounting for the past 7 years - I was told it was not available.

While I can't claim to truly understand it, all I know for sure is that the cash value of my Portable Pension is less than it was in 2012....

If someone understands better than I, please illuminate for the rest of us.

Thought you'd like to know...

Anonymous said...

In the new retirement system you will need at least 35 years full-time in order to have any sort of descent retirement... the problem full time jobs are becoming fewer do to an inside re-org after the great recession.... fedex in their last frontline said they had to change business models, but don't give specifics.... but everyone can see what happened.... they are looking for every possible way to reduce cost and old timers are in the crosshairs... meaning watch your paper work... little things that can trip you up.... if i were a senior manager at a district meeting I can only imagine that they are talking about how many jobs (top pay) they need to eliminate... the public has no idea what it's like to work for a non-union that has no hr representation in the stations... where working through your lunch is the norm... if we were salaried it'd be ok but we are hourly... FEDEX takes the Wagner act of the 1930's and walks all over it.... there is zero employee representation....

Anonymous said...

Well as pitiful as the comments are 14 years with Fedex landed me $380 a minth retirement. I lost my job for missing a week sick with double pneumonia. Only got 2 steps of the GFT. I am sure Fred never knew lol. I would like to know what happened to the profit sharing I was supposed to get when I retired?