Originally Posted by
kwri10s
Go back and look at your retirement summary from FDX that you got last fall. The company had already funded for what they forcast would cost for the increased A fund. They were 4 Billion over funded for the current retirement obligation, since we did not increase the retirement. It will be interesting to see where that 4 B moves to now that it is not needed to fund retirements. Maybe it will counter balance the 4.8 Billion cash purchase price they agreed to pay for TNT.
If you read my posts you will see that I said the company could probably afford an increase financially, no argument there. That doesn't mean they could afford it politically with regard to the rest of the employees who lost theirs about 8 years ago.
It wasn't going to happen, period. My opinion only. Not because of the money, but because of the lack of perceived fairness with the rest of the company.
So while I would have liked the A fund to have been improved, I was never expecting it to so that wasn't the reason I voted NO.
Did I mention that I voted NO?
Well, I did, I voted NO.