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Old 03-28-2019, 04:40 AM
  #187  
Skippy320
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Joined APC: Aug 2014
Posts: 46
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Originally Posted by kronan View Post
So, we haven't spent any money researching this proposal? Whole thing's only from reading a book and driven by our former Chairman.

Who created the modeler? Works so I know it wasn't FedEx IT.


Anyone here recently receive a letter from FedEx outlining their accumulated Pension Benefit under our current A plan?

Unlike Taxi pay...Pension plans have a LOT of regulation. Don't know all the history, but think it really became a big deal in the 70's (1974 for the ERISA law...google it) Anywhooo, Law was eventually passed following Pension failures in the 60's to try and protect US worker bee's who've been promised pensions. (See Studebaker Pension failure in the 60s)
And Pension Law has been tweaked a few times over the years to improve it.

Should the VB come to pass. The funds for benefits will wind up in a Trust. Reporting requirements to the Federal Govt each and every year.
Each and every year the individuals covered by this plan will get a statement indicating their Pensionable earnings and their accumulated benefits. In the case of the VB plan, I'm thinking the benefit calculation will have Two Components. 1st based upon the notional value of accumulated shares in the VB trust. 2nd based upon the negotiated floor value accumulated over time.

As per the model, currently, that's a 2% floor rate.

Personally, I think FedEx is retaining Pension changes for CBA 202X.

Also, personally, Should TonyC come back and say-yep- Traditional A plan changes prohibitively expensive so VB plan improvement is better than NO improvement....why should we aim for a 2% floor in CBA 202X? Making the floor 2.2'sh gets the 25 year Accumulated Floor benefit for the QOL upgrade folks into the 130k ballpark.

And, should FedEx try and Game the VB Pension pay...won't be a grievance working through RLA.
Instead, will be working through a different section of Law that's actually on our Side versus the RLA maintain the status quo keep the freight moving.
You are assuming a lot...


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