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Pathetic Purple FPP Payout
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<blockquote data-quote="quadro" data-source="post: 694178" data-attributes="member: 12850"><p>That's assuming that they started their career at their current company when they were 20-25 years old. Leaving in their late 40's to early 50's means giving up about 10-15% of their pension but at least a portable plan allows them to have their pension to continue to grow rather than starting over.</p><p></p><p></p><p>I don't know why the PPA wasn't set up to match the old plan although I would guess at least in part that it was due to the rules of a PPA. Regardless of our opinions of the PPP, it doesn't change the fact that the old plan would have crippled FedEx if they didn't change. You can paint it as a facade if you want but the PPA did have a major impact on how much a company must contribute to a defined benefit plan. No matter how you argue it, you cannot get around that fact.</p><p></p><p></p><p>Of course they do. Show me a business that doesn't.</p></blockquote><p></p>
[QUOTE="quadro, post: 694178, member: 12850"] That's assuming that they started their career at their current company when they were 20-25 years old. Leaving in their late 40's to early 50's means giving up about 10-15% of their pension but at least a portable plan allows them to have their pension to continue to grow rather than starting over. I don't know why the PPA wasn't set up to match the old plan although I would guess at least in part that it was due to the rules of a PPA. Regardless of our opinions of the PPP, it doesn't change the fact that the old plan would have crippled FedEx if they didn't change. You can paint it as a facade if you want but the PPA did have a major impact on how much a company must contribute to a defined benefit plan. No matter how you argue it, you cannot get around that fact. Of course they do. Show me a business that doesn't. [/QUOTE]
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