Originally Posted by
Gunter
I'm a little scared right now because I agree with Tony.
Some at both ends of the spectrum are pushing for no or a smaller A plan. Those at the top will be gone in 5 years or less and won't have to deal with the consequences. Those at the bottom will have a long time to accumulate wealth under a revised system.
The A plan will NEVER be paid anywhere near 100 cents on the dollar during a conversion. Those with little invested don't care anywhere near as much the middle 70-80%.
I don't think 4,600 of us will ever agree on what the ideal retirement plan would look like. There are pros and cons to every proposal I've ever heard, including the proposal to pay us in gold. Currently our A plan exceeds what would be protected by the PBGC if FedEx were to ever go bankrupt and dump the A plan. Currently there is no way under tax schemes to completely replace the value of an A plan with B plan contributions. I am in favor of rebalancing to the extent that it can be done, and I am in favor of offering options. For example, some people would opt for lump sum payouts, some would not.
What I strongly believe, though, is that we should ALL -- senior to junior to not-yet-been-hired -- have the same plans, or at least the same options. The day we show The Company it's OK to discriminate against one minority group is the same day we show The Company it's OK to discriminate against ANY minority group, and that's were we begin the slide from unity of one large group to fighting amongst many sub-groups. DON'T give The Company that wedge.
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