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FedEx employees' 401(k) selection window for new plans opens in July

FedEx employees will have a window later this year to decide between their current 401(k) plan and the new, pension-less plan, the company said Wednesday.
In the new 401(k) plan, FedEx will provide an 8% match if an employee contributes 6% of salary. Currently, the plan’s match is 3.5% with a 6% contribution, but that includes the pension plan.
Current employees will be given a one-time option to continue participating in the current plan or to switch over to the new plan.
The selection window for Retirement Choice eligible employees is July 12 through August 25, FedEx said in a statement.
The new plan will take effect January 2022, one year later than what FedEx initially said when it announced the change in November 2019. ....

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