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FORM 5500 DATA

Federal Express Corporation Pilots' Retirement Savings Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan06/01/2002
  • Net Assets as of 12/31/2019 $3,698,270,652
  • Plan Number7
  • Plan Type Single Employer
  • Is the plan collectively bargained?Yes
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants4,898
  • Retired or separated participants receiving benefits22
  • Other retired or separated participants entitled to future benefits469
  • Subtotal5,389
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits15
  • Total5,404
  • Total number of participants as of 01/01/20195,307
  • Number of participants with account balances5,387
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address3630 Hacks Cross Road Building C, 3Rd Floor
  • CityMemphis
  • StateTN
  • Zip38125-8800
  • Telephone(901) 434-7013
  • EIN71-0427007
  • Industry Code481000
  • Named AdministratorHugh A. Skinner

Audit Information

  • Audit StatusAudited
  • AuditorErnst & Young, LLP
  • Auditor EIN34-6565596
  • Audit OpinionUnqualified
  • Audit Type Full Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
2F ERISA section 404(c) Plan This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $60,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $883,032,520
Contributions $235,763,152
Cash Contributions $235,763,152
Cash from Employers $120,215,151
Cash from Participants $102,249,978
Others (including rollovers) $13,298,023
Noncash Contributions $0
Total Earnings on Investments $616,311,367
Total Interest $939,752
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $939,752
Interest from Other Investments $0
Total Dividends $94,892,804
Preferred Stock $0
Common Stock $70,871
Rents $0
Net gain (loss) on sale of assets $116,304
Aggregate Proceeds $1,355,140
Aggregate Carrying Amount $1,238,836
Total Unrealized Appreciation (depreciation) of assets $-247,659
Real Estate $0
Other $-247,659
Net investment gain (loss) from common/collective trusts $252,680,783
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $267,929,383
Other Income $30,958,001
Expenses $237,574,252
Total Benefit Payments $236,149,365
Directly to participants or beneficiaries, including direct rollovers $236,149,365
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $40,975
Certain deemed distributions of participant loans $1,189,402
Interest expense $0
Total Administrative Expenses $194,510
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $165,459
Other Administrative Fees $29,051
Net Income $645,458,268
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $3,698,270,652 $3,052,812,384 21.14%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $16,180,713 $0 0.0%
Employer Contributions $0 $0 0.0%
Participant Contributions $14,050,129 $0 0.0%
Other Contributions $2,130,584 $0 0.0%
General Investments $0 $0 0.0%
Interest-bearing cash $0 $0 0.0%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $16,171,545 $14,931,599 8.30%
Value of interest in common/collective trusts $1,498,838,327 $1,214,980,274 23.36%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $1,892,353,289 $1,716,754,019 10.23%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $271,024,190 $101,028,298 168.27%
Employer-related Investments $3,702,588 $5,118,194 -27.66%
Employer Securities $3,702,588 $5,118,194 -27.66%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $0 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $3,698,270,652 $3,052,812,384 21.14%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Investments Institutional

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Strategic Advisors, Inc. Investment advisory (plan) NONE $165,459 $0 $165,459
Fidelity Investments Institutional Participant loan processing, Account maintenance fees, Sub-transfer agency fees, Securities brokerage commissions and fees, Recordkeeping fees Recordkeeper $73,423 $0 $73,423
Total $238,882 $0 $238,882

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Fidelity Investments Institutional Various Fund Companies Sub-transfer agency fees Fidelity Receives Indirect Compensation From Fund Companies. The Formula Varies With A Range of 0.04% - 0.40% of Average Daily Balance of Assets. On Average, The Rate Earned Is 0.22% $0
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Vanguard Institutional 500 Index Fd Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $425,270,180
Vanguard Inst Total Bond Mkt Index Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $162,055,576
Vanguard Retirement Savings Trt II Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $141,973,705
Vanguard Inst Total Intl Stock Mkt Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $135,832,599
Vanguard Target Retirement 2025 Ts Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $119,763,754
Vanguard Inst Extended Market Index Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $113,204,200
Vanguard Target Retirement 2035 Ts Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $81,127,500
Vanguard Target Retirement 2030 Ts Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $80,903,990
Vanguard Target Retirement 2020 Ts Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $73,729,683
Vanguard Target Retirement 2040 Ts Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $65,580,917
Vanguard Target Retirement 2045 Ts Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $38,738,677
Janus Collective Investment Trust Sei Trust Company DFE: Common/Collective Trust $26,538,126
Vanguard Target Retirement Inc Ts Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $16,353,566
Vanguard Target Retirement 2015 Ts Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $14,431,188
Vanguard Target Retirement 2050 Ts Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $11,531,501
Vanguard Target Retirement 2060 Ts Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $2,797,457
Vanguard Target Retirement 2065 Ts Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $2,767,280
Vanguard Target Retirement 2055 Ts Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $2,591,995
Total $1,515,191,894

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.