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retirement.fedex.comOverviewAbout This MaterialWe are pleased to provide you with the 2017 edition ofYour Retirement Benefits (YRB). This YRB replaces the 2016Your Retirement Benefits book. It describes in detail theretirement plans offered to you as an employee, it is theSummary Plan Description (SPD) for the Plans detailed hereand it provides the following: Introduction: Basic information on the retirement plans. Plan Administration: Information on plan administration,plan trustees, enrollment, the claims process and yourrights. Pension Plan: Description of eligibility, benefitformulas, credited service, retirement ages and vesting. Retirement Savings Plan (RSP): Description ofeligibility, investment options and source of contributions. What To Do When: Additional information about whatyou should do in the event of your termination ofemployment, retirement, leave of absence orsuspension, or what your beneficiary should do in theevent of your death, including charts to illustrate howthese events affect your retirement benefits.Unless noted otherwise, all references to FedEx andCompany throughout this SPD include all FedEx Companiesparticipating in the retirement plans.The YRB is issued periodically. If a benefit changes before thenext edition, we will provide you with a Summary of MaterialModifications (SMM) to ensure that up-to-date information isavailable for you and your family.It’s Important to Make the Most of the YRBYou must take time to look through this information tounderstand the retirement plans FedEx offers to you. Bydoing so, you help to ensure you take maximum advantageof your retirement benefits. Your retirement plans are a veryimportant part of your total benefits at FedEx.Planning is a must if you want to have a financially secureretirement. For a wealth of information on retirementplanning, go to the website retirement.fedex.com. Thereare three components to your retirement planning to keepin mind: FedEx retirement plans, as described in this SPD. Social Security benefits. Personal savings.Highlights of recent retirement plan changes: Effective January 1, 2017, additional distribution optionsare available for terminated/retired employees in theRetirement Savings Plan. Effective June 1, 2017, a surviving spouse will have theoption to receive the Traditional Pension Benefit (TPB)as a lump-sum payment. Effective July 1, 2017, rehired retirees are no longersubject to the suspension of benefit rules. Effective December 31, 2017, if there is no beneficiarydesignation on file at the time of your death, any benefitdue you will be paid first to your surviving spouse orsecond to your estate.Retirement Services DepartmentFedEx Corporate Services, Inc.Note: This SPD does not address any benefit you may haveaccrued under any other qualified Plans sponsored by anotherFedEx Controlled Group Member. Refer to the separate SPDthat covers employees of those FedEx Controlled GroupMembers for more information on any benefit you may haveaccrued under those Plans.Your Retirement BenefitsExpress and Ground Employers U.S. – December 20171

retirement.fedex.comTo Whom This YRB PertainsEligible employees of the following Operating Companies: Federal Express Corporation (excluding employeesresiding in Puerto Rico) Federal Express Virgin Islands, Inc. FedEx Corporate Services, Inc. FedEx Corporation FedEx CrossBorder, LLC FedEx Custom Critical, Inc. FedEx Freight Corporation (holding companyemployees only) FedEx Ground Package System, Inc. (excludingemployees classified as package handlers, packagehandler – parcel assistants, a special assignmentpackage handler or an occasional package handler) FedEx Trade Networks, Inc. FedEx Trade Networks Transport & Brokerage, Inc. FedEx Trade Networks Trade Services, Inc. World Tariff, LimitedIntroductionOverviewNote: References to FedEx or Company include all FedExCompanies participating in that retirement plan or program.As an employee, your compensation is more than yourpaycheck. It also includes comprehensive benefits that helpprovide you and your family financial security during yourworking years and during retirement. This Your RetirementBenefits (YRB) book explains your retirement plans assimply and accurately as possible. It is the Summary PlanDescription (SPD) of the FedEx Corporation Employees’Pension Plan (pension plan) and the FedEx CorporationRetirement Savings Plan (RSP) sponsored by ParticipatingEmployers. See “Participating Employers” in the “PensionPlan” and “Retirement Savings Plan (RSP)” sections fordetails. Note: The RSP is a 401(k) plan and may bereferenced in this way throughout this SPD.2Your Retirement BenefitsExpress and Ground Employers U.S. – December 2017This document is your SPD dated December 31, 2017, anddescribes the key features of the pension plan and the RSP.Each benefit described here is based on a formal plandocument or contract. While this information is intended tobe accurate, retirement benefits are subject to the detailedprovisions of the applicable plan documents. If there is aconflict between this SPD and the official plan documents,the plan documents always govern. You are not entitled toretirement plans benefits due to a misstatement in oromission from this document. FedEx reserves the right toamend or terminate any benefit plan at any time and for anyreason.Plan Eligibility Scope and GuidelinesEligibility for each retirement plan, program or service isdetermined by the Participating Employers of that Plan,program or service. Each section of this YRB describing aPlan, program or service includes a list of ParticipatingEmployers of that particular Plan, program or service andhow transferring between the FedEx Controlled GroupMembers affects eligibility.FedEx Controlled Group MembersFedEx Controlled Group Members are FedEx companiesunder common control of the parent company. They includethe following operating companies:FedEx Controlled Group MembersFederal Express CorporationFedEx Trade Networks, Inc.Federal Express Virgin Islands,Inc.FedEx Trade Networks TradeServices, Inc.FedEx Corporate Services,Inc.FedEx Trade NetworksTransport & Brokerage, Inc.FedEx CorporationWorld Tariff, LimitedFedEx CrossBorder, LLCFedEx Office and PrintServices, Inc.FedEx Custom Critical, Inc.FedEx Office CommercialPress, Inc.FedEx Freight CorporationFedEx Supply ChainDistribution System, Inc.FedEx Freight, Inc.GENCO InfrastructureSolutions, Inc.FedEx Ground PackageSystem, Inc.

retirement.fedex.comWho Is Not EligibleAn individual who is classified by a Participating Employeras an independent contractor or leased employee is noteligible to participate in any retirement plan sponsored bythe employer, even if such person is later determined by acourt or administrative agency having competent jurisdictionto be a common law employee of the employer.An employee is not eligible to participate in any aspect ofthe retirement plans the day the terms and conditions ofemployment are covered by a collective bargainingagreement, unless the agreement specifically incorporatesa particular Plan. Employees, whose terms and conditionsof employment are governed by the collective bargainingagreement between Federal Express Corporation and theAir Line Pilots Association, International, should refer totheir most recent Pilot Benefit Book (PBB) for a descriptionof the Plans in which they may be eligible to participate.For more information on who is not eligible to participate inthe retirement plans described in this YRB, see “Eligibility forPlan Participation” in the “Pension Plan” and “RetirementSavings Plan (RSP)” sections.The FedEx Retirement PlansEligible employees of Participating Employers are offered anemployer-paid pension plan. Also, since personal savings arenecessary to help you prepare for a financially comfortableretirement, FedEx provides employees of ParticipatingEmployers a means by which you can save for yourretirement through the RSP.In addition, your employer pays half the cost (you pay theother half) for your Social Security benefits. See “SocialSecurity—A Reminder” in the “Pension Plan” section fordetails.Your Retirement BenefitsExpress and Ground Employers U.S. – December 2017CorrespondencePension plan correspondence is sent to your home addressas listed in your employer’s Human Resources InformationSystem (HRIS). You are responsible for updating any changeof address in the HRIS or reporting any change of address toyour manager. If you are no longer employed by FedEx, callthe FedEx Retirement Service Center at 1.855.604.6221, tochange your address.Summary of Retirement Plans BenefitsYour retirement plans benefits are listed below anddescriptions of these benefits are included in this YRB, yourSummary Plan Description (SPD).Pension Plan Traditional Pension Benefit (TPB) formula, if applicable. Portable Pension Account (PPA) formula.RSP—401(k) Plan Pre-tax contributions. Employer Matching contributions (Company match). If eligible, After-tax contributions, and If eligible, Catch-up contributions.Plan YearThe pension plan begins on June 1 and ends on May 31 ofthe next year. The RSP begins on January 1 and ends onDecember 31.Plan TerminationFedEx has established the retirement plans with theexpectation that they will continue indefinitely. However,unforeseen circumstances or those beyond the control ofFedEx (for example, bankruptcy, merger or serious businessreversal) may make it impossible or inadvisable to continueone or more of the retirement plans.3

retirement.fedex.comFedEx reserves the right for any Participating Employerto modify, amend or suspend any plan or program by awritten amendment signed by a duly authorized officer ofthe Participating Employer; a resolution of the FedExCorporation Board of Directors or any committee of theBoard; a resolution of the FedEx Corporation RetirementPlan Investment Board; or an amendment or termination ofthe underlying contract, where applicable, executed by anofficer or other authorized person.FedEx reserves the right to terminate any plan or program(or a Participating Employer’s participation in any plan orprogram) by action of the Participating Employer’s Board ofDirectors; by action of the FedEx Corporation Board ofDirectors or any committee of the Board; or by action of theFedEx Corporation Retirement Plan Investment Board. If suchsteps are taken, you will be informed of the effect of thechanges on your rights to benefits.Status of BenefitsIf a retirement plan is terminated, the following applies to thestatus of its benefits: If the RSP terminates, each participant is entitled to adistribution of his/her RSP account balance according tothe value of the account on the distribution date. If the pension plan terminates, all participants’ accruedbenefits become 100 percent vested to the extent theyare funded. Subject to approval by the Pension BenefitGuaranty Corporation (PBGC), the assets of the pensionplan are allocated and distributed in the following order:1. To persons receiving or eligible to receive annuitypayments from the pension plan, 36 months beforethe date the pension plan is terminated. (The five-yearperiod dating back from the termination date isexamined to determine whether or not retirementbenefits were calculated under different formulas. Ifso, the method providing the smallest benefit is us

Vanguard Two-factor Authentication Vanguard requires RSP participants to register for two-factor authentication to gain online access to their plan account. Claims Administration _ QDRO . Regular Mail . FedEx Qualified Order Center . P.O. Box 1433 ; Lincolnshire, IL 60069-1433 .