Whether the internet guru's like it or not, a PSPP style Plan IS a Pension Plan. You don't get PBGC coverage of your 401k, don't get PBGC coverage of your B plan, will get PBGC coverage if we transition to a PSPP style plan.

Opponents seem to come down to 2 things.
1. ALPA will "forget" to negotiate for a floor value\benefit language will be subject to interpretation (See Lie Flat's grievance)
2. Stock market will implode and the Trust will be unable to sustain a floor benefit and FedEx won't be required to add $$ to the Trust in order to fully pay benefits. (See Japan's stock market, Japan still hasn't returned to it's market highs)

1. Got nothing for you here, other than this is the one segment of our Contract that the Governments fully on our side. ERISA law is on the Employee's side. RLA is heavily stacked against us. There's no rational reason that a Grievance takes multi-years to fully process. No real reason we couldn't have a new contract within 6-12 months. No reason under than RLA's keep the freight moving.
2. Not quite sure why this only impacts a PSPP style plan. Even so, people tend to forget that a component of the plan is FedEx being required to put money into our Pension trust each and every year, not just when they feel like it. And as Fastburner can attest, FedEx has put some pretty big chunks of cash into the FedEx Pension Trust ($$ not just to us, but for every FedEx employee covered by their original pension or the Portable Pension which was imposed on them over a decade ago). And even in Japan, there's been some darn good returns as they work back towards their market highs.
Add in the simple reality that there would be very FEW people drawing on the assets initially should we transition to a PSPP style plan. Something that's counter-intuitive is that in a way, we'd benefit from 2 or 3 down years at the beginning of a PSPP style pension...just as Dollar Cost Averagers benefit in mutual funds. (For those of us who're financially literate, last springs market collapse was the best buying opportunity the majority of us will ever have. And has certainly resulted in some eye watering 1 year returns)

And now one other slam, the "some of us" will have to be bought up to the 1999 standard. The Some of US are the QOL folks who plan on spending the first 10-18 years of their FedEx career working 50% of their BLG (+/- some unknowable percentage)
Working a fraction of your BLG has a Huge Impact on the final outcome of your 401k\B plan final value. Warren Buffet is revered as an Investor due pretty much to the longevity of his investing career and the miracle of Compounding Interest (something WE don't benefit from in a PSPP style plan, but our Pension Trust will)
IMO- some people will continue to make that choice. They might have family money, military pension, but an individual choice.

There are so many posts on a PSPP style plan, really have to wonder at the mindset of people saying over and over that a Majority of Pilots oppose it. Put up a TA with it and it'll be shot down.
Well, for those of you who're also hardcore on never taking the first agreement. Seems to me the best possible thing that could happen is a PSPP style Pension transition being negotiated. Best of all worlds, "We" get to vote down a TA (Just as Delta did when their NC \ MEC negotiated a modification to their profit-sharing plan for increased guaranteed pay). Finally a No vote for a TA and one that will result in a New group of leaders for Our Union.

Unfortunately, a PSPP style transition isn't going to be negotiated in, because I've also learned here that a PSPP style Defined Benefit Plan is MORE expensive than improving our Traditional Plan.
And if there's one thing I've learned in my 20 years at FedEx, Management will ALWAYS choose the cheaper option when it comes to Pilot Benefits (See Hotel rooms\Express Scripts)


NIKKEI 225 Index (Japan) Yearly Stock Returns