In Episode 1 of our Retirement Education Series podcast, we talk with Captain Ben Douglas, R&I Committee Chairman and Captain Rich Brown, Negotiating Committee Member. They discuss the retirement education series, why we are talking about retirement now, different types of retirement plans to include defined benefit plans and defined contribution plans.
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In Episode 2 of our Retirement Education Series podcast, we talk with Captain Ben Douglas, R&I Committee Chairman and Captain Rich Brown, Negotiating Committee Member. They discuss qualified and non-qualified plans, what qualified and non-qualified plans we have and the formulas associated with our defined benefit and defined contribution plans.
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In Episode 3 of our Retirement Education Series podcast, we talk with Captain Ben Douglas, R&I Committee Chairman and Captain Rich Brown, Negotiating Committee Member. They discuss the history of the defined benefit and defined contribution plans at FedEx and the advantages and disadvantages of the defined benefit and defined contribution plans.
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In episode 4 of our Retirement Education Series podcast, we talk with Captain Pat May (Negotiating Committee Chairman), Captain Ben Douglas (Retirement & Insurance Chairman), and Captain Kevin Biggins (Retirement & Insurance Vice Chairman).They discuss economic and non-economic risk that is associated with both a DC and a DB plan. They discuss inflation risk, longevity risk, investment risk and bankruptcy risk.
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In episode 5 of the Retirement Education Series Captain Pat May (Negotiating Committee Chairman), Captain Rich Brown (Negotiating Committee Member), Captain Ben Douglas (Retirement & Insurance Chairman), and Captain Kevin Biggins (Retirement & Insurance Vice Chairman) discuss defined contribution plans, the advantages and disadvantages of defined contribution plans, IRS limits in defined contribution plans and a defined benefit plan that has the characteristics of a defined contribution plan called a cash balance plan.
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In podcast 6 of the Retirement Education Series Captain Pat May (Negotiating Committee Chairman), Captain Rich Brown (Negotiating Committee Member), and Captain Ben Douglas (Retirement & Insurance Chairman) discuss an alternative pension plan design that was presented to FedEx in 2018. Our team of SME’s discuss how we arrived at the Pilot Stabilized Pension Plan (PSPP), the plan design, potential features, accrual, and funding requirements.
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In podcast 7 of the Retirement Education Series Captain Pat May (Negotiating Committee Chairman), Captain Rich Brown (Negotiating Committee Member), Captain Ben Douglas (Retirement & Insurance Committee Chairman) and Captain Kevin Biggins (Retirement & Insurance Committee Vice Chairman) discuss the goals of the Retirement Education Series, the pros and cons of DC-only plans, flat dollar formulas, improving the benefits in our current defined benefit plan and the proposed PSPP plan. Our team of SMEs also discuss our retirement negotiating history, a cash balance plan and preparations for contract 2021.
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