FDX retirement age to 65
02-28-2009, 03:40 PM
#52
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Joined APC: Jun 2008
Posts: 77
I believe that this retirement age increase is minor compared to the all out assault we will face over the next three contracts. We have already been introduced to the Cash Balance alternative during the last round of contract negotiations. The real issue will be whether we have an "A" plan at all in 20 years. If you haven't listened to the podcast of the last shareholders meeting, FWS speaks frankly about his opinions of defined benefit retirement plans. Go to >Investor Relations> at the bottom of the FedEx Express login page. Then go to >Events>FedEx Annual Shareholders Meeting. You have to register with your email as an employee to download the podcast. It gets interesting during the Q and A towards the end of the meeting.
02-28-2009, 04:43 PM
#53
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Joined APC: Jul 2007
Position: B767/CPT
Posts: 56
I feel a little silly asking this question. Can anyone tell me where it states that normal retirement is age 60, or age 60 is the normal retirement age? I am unable to locate this phrase or or anything linking normal retirement age with a number. Is it in an Appendix or a Letter of Agreement. All I can find is the definition of regulated age. An a reference to normal retirement age but no age attached to it. Thanks
02-28-2009, 04:58 PM
#55
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Joined APC: Feb 2009
Position: line holder
Posts: 13
I believe that this retirement age increase is minor compared to the all out assault we will face over the next three contracts. We have already been introduced to the Cash Balance alternative during the last round of contract negotiations. The real issue will be whether we have an "A" plan at all in 20 years. If you haven't listened to the podcast of the last shareholders meeting, FWS speaks frankly about his opinions of defined benefit retirement plans. Go to >Investor Relations> at the bottom of the FedEx Express login page. Then go to >Events>FedEx Annual Shareholders Meeting. You have to register with your email as an employee to download the podcast. It gets interesting during the Q and A towards the end of the meeting.
02-28-2009, 05:16 PM
#57
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Joined APC: Feb 2009
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Posts: 13
Yes, retirement age and early retirement are defined contractually now. But when the law changes, in spite of the majority opposing how it will impact their life, all must contractually abide by it (see cabotage, cockpit security, etc). This retirement age disparity is an industry-wide issue. The way airline managements have dealt with industry-wide issues in the past is not to re-negotiate deals. They lobby to re-write the law! That's specifically why we need to beat them to the punch here and get this redefined on our terms, before the law changes.
I propose we strive for a reduced penalty, to 1% per year, for going early. I would still like the option of going at 58...that would be 25 years for me. What do they get in return...retirement age redefined to age 65, which is where I believe this will end up anyway.
I have a text document showing what this would look like, but I don't see an option for attachments, here.
I propose we strive for a reduced penalty, to 1% per year, for going early. I would still like the option of going at 58...that would be 25 years for me. What do they get in return...retirement age redefined to age 65, which is where I believe this will end up anyway.
I have a text document showing what this would look like, but I don't see an option for attachments, here.
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