you may still get the FO benefits after they expire as long as you booked it while you were an FO. this happened to my wife a couple years ago when she lost her status. she had booked a flight prior to 2/28, but flew in June and still received an upgrade. not sure about baggage fees as we typically don't check bags.

of course this was a couple years ago, so the system may be more 'on the ball' now. YMMV as always.