Originally Posted by Jetjok

"The balloting for the Vanguard Target Funds Letter of Agreement (LOA) is now open. Ballot information and voting instructions were mailed to all members in good standing on April 14th, 2008. In the interim, the LOA is available on the MEC homepage under the "Stay Informed" section along with voting instructions."

The above arrived as a part of an email from the MEC's latest message line.

Could someone please explain to me why it's important to vote for or against this LOA. The way I read the information on the ALPA site, this LOA "brings our defined contribution retirement plans into compliance with current regulations and also provides our membership with a wider array of funds to make choices from.

So my question is: If it brings us into compliance, and increases our array of available funds, isn't that all good, and if that's the case, why bother to incur the expense of voting. Can't the MEC just adapt this LOA, or does every LOA, regardless of impact, have to be voted upon? Am I missing something? Is there a downside to voting for this LOA?

Thanks,

JJ