Tuesday, November 29, 2011

An example of FedEx employee's retirement plan, not any diffrent from a Conway employee


First of all, you are on your own, you have to contribute money from your hard earned wages, meaning you have to put aside money from your paycheck, so that you could retired.
Sure FedEx will match 50 cent to the dollar that you put in your contribution and that’s only up to 6% of your earnings, but the matching is only going to cover the taxes for your benefit at the end of your time of employment at the age of 67, meaning no less of your exact age of retirement.
Meaning you paid for your retirement, because the matching from FedEx is tax deductible for FedEx Corporation and they don’t loose anything!
Let me give you my example of my contribution, per week, they deduct $ 78.80 per weeks X 4 weeks = $314.40 X 12 months = $3772.80 per year, plus FedEx matches $1886.40 which equals to a total of $5659.20 per year.
Now under a Teamsters contract, we could negotiate a $5.00 per hr for retirement on top of our wages, meaning for every hour you work you’ll get $5.00 per hour, here is an example: you work 40hrs =$200.00 per week now times it by 4 weeks =$800 per month and times it 12 months =$9600.00 going into the Western conference pension funds, not in FedEx Corporate hands to gamble your nest.
 And that amount didn't come out of your pocket!!!

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