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FDX- Retirement Age and reduced BLGs

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Old 08-10-2012 | 06:15 AM
  #31  
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[QUOTE=4A2B;1243023]not true, they retained all accrued benefits under the traditional plan and their new plan is separate. Think of it as a pension freeze and a new benefit plan going forward. They had a choice at first, and later on anyone who still was in the old plan was involuntarily changed to the new portable plan.

just google it, but this is a short blurb from a FedEx pension pub:

"The Pension Plan provides you with a specified retirement benefit under the Portable Pension Account (PPA) formula. You also may have a benefit accrued under the Traditional Pension Benefit (TPB) formula, which was capped on May 31, 2008. "[/QUOTE

Found it. Thought they had converted the pension to the cash balance for previous earned benefits.
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