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<blockquote data-quote="quadro" data-source="post: 693800" data-attributes="member: 12850"><p>It appears your hatred of Fred and FedEx are a convenient way of dismissing facts. The new pension rules did mean substantial increases in costs. That's not speculation, a guess, or my opinion. Even for healthy companies, the hundreds of millions, or more, that it was going to cost to fully fund their plans was just too risky. The pilots and HCE's have a different plan and are a substantially smaller group of people.</p><p></p><p>The other point that's being missed is that according to Bureau of Labor stats, young workers are much less likely to stay with a company for an entire career compared to how people used to approach a job. Because the benefit of a defined benefit plan generally comes towards the end of a career, more and more people are benefiting from portable plans. I realize that doesn't help anybody that's caught in the switchover. I also understand that many people are upset, and rightly so, at the loss of the traditional plan. I don't, however, dismiss the implications of the PPA and the effect it had on many companies regardless of who it may or may not have been designed for. That just leads to the "be careful what you ask for as you might just get it".</p></blockquote><p></p>
[QUOTE="quadro, post: 693800, member: 12850"] It appears your hatred of Fred and FedEx are a convenient way of dismissing facts. The new pension rules did mean substantial increases in costs. That's not speculation, a guess, or my opinion. Even for healthy companies, the hundreds of millions, or more, that it was going to cost to fully fund their plans was just too risky. The pilots and HCE's have a different plan and are a substantially smaller group of people. The other point that's being missed is that according to Bureau of Labor stats, young workers are much less likely to stay with a company for an entire career compared to how people used to approach a job. Because the benefit of a defined benefit plan generally comes towards the end of a career, more and more people are benefiting from portable plans. I realize that doesn't help anybody that's caught in the switchover. I also understand that many people are upset, and rightly so, at the loss of the traditional plan. I don't, however, dismiss the implications of the PPA and the effect it had on many companies regardless of who it may or may not have been designed for. That just leads to the "be careful what you ask for as you might just get it". [/QUOTE]
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