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R&I Committee: "Know Your Benefits" (09/28/10)
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R&I Committee: "Know Your Benefits" (09/28/10)

The FedEx MEC R&I Committee would like to introduce a new feature to serve our membership called Know Your Benefits. We will periodically produce these short blurbs regarding R&I matters for the Positive Rate, and the most recent will remain on our committee page. Due to the ever changing nature of the subject matter, please continue to refer to your Collective Bargaining Agreement and Pilot Benefit Book for the most up-to-date information.

 

Retirement & Insurance Committee
Know Your Benefits - September 28, 2010

 

The FedEx MEC R&I Committee would like to introduce a new feature to serve our membership called Know Your Benefits. We will periodically produce these short blurbs regarding R&I matters for the Positive Rate, and the most recent will remain on our committee page. Due to the ever changing nature of the subject matter, please continue to refer to your Collective Bargaining Agreement and Pilot Benefit Book for the most up-to-date information.

 

As we see fitting of any discussion of benefits amongst pilots, the first "Know Your Benefits" will be about money. So, how is matching from FedEx computed in the Pilots' Retirement Savings Plan (401k)?

 

From the Pilot Benefit Book regarding the FedEx Pilots' Retirement Savings Plan: Sources of Contributions

 

Employer Matching Contributions -- Currently, FedEx contributes $.50 on the dollar for the first Pre-tax/401(k) $1,000 that you save each plan year. This means FedEx will contribute up to an additional $500 for the first $1,000 you contribute during a plan year. For example:

 

If you save $500 during the plan year, FedEx matches $250.

If you save $1,000 or more, FedEx matches $500.

 

The plan year is January 1 through December 31.

 


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