The Walrus

I personally think working on the delta between retirement vs active pay is a more judicious use of our bargaining capital to entice retirement and upward movement.

max8222

Correct me if I am wrong but everyone that was 53 and over, qualified for the VEBA ($25K). So saying that more guys would retire if they had financial help with their health care is a bunch of BS. Then add on the extra years they were gifted, they should have been able to put away plenty to cover their medical expenses. Just another excuse, like they need to fly carry over and accept draft trips.

MeXC

Tell him what he's won, Johnny!

AFW_MD11

you're not wrong - and most will stay & do those things until they are forced out (age 65 & maybe beyond?) or die - regardless of what new/better incentives the next contract offers them

MaydayMark

Sadly … I think history has proven that

md11phlyer

I feel like all the 30 somethings should start attending these retirement seminars in order to better educate ourselves on what we deserve 30 years from now. Might make quite a difference on how we vote.

FrankTheTank

True.. But I bet there ain't many 30 something's on property.. Or maybe the contract could have things that benefit all and not select few as part of the retirement package.. (Age multipliers, VEBA, etc)

Red Letter

Everyone's situation will be different, but I encourage everyone to "run the numbers" on retiring at age 60 vs. 65 (and every year between). I thought working until age 65 would be a no-brainer. I ran the numbers and I will be gone at 60! I think most will be equally shocked by the numbers.

In my case, it would take me at least 18 years to break even (foregoing 5 years of pension ($550,000) vs. working until 65 (and getting 4 more good years)). Yes, I would still net a higher after tax income for working 5 more years, but not anywhere near what you might think (and that is maxed out Widebody CA). 5 more years of retirement and doing what I want to do is worth much more to me than the small increase in net income.

Check it out. Attend a retirement seminar (by teleconference) and get the projected numbers from the Fedex Retirement Service Center (takes about 4 weeks). Account for all of the taxes, union dues, insurances, etc.. Look at your increase in pay vs. being retired and not doing anything but what you want to do, when you want to do it. It is now obvious to me that it really was a "no-brainer"....retire at 60!

There is a very good reason why FedEx is not interested in modifying the retirement parameters. FedEx will get significant "free labor" for those that choose to work past age 60 ($550k in my case, $650k for those maxed out at 60), because they don't have to pay your pension during the time you are working for free. In my case, I would work until mid-August before I would ever start increasing my net income. Of course, that date moves further in the future for each year I stay past age 60, because my pension I am delaying is increasing (based on Years of Service).

Once again, YMMV, based on kids, ages, marital status, health, High 5, health care options, interest in hobbies, etc.. But at least, run the numbers.