Thanks Mr.Mayor for the perspective. Concerning the nuts and bolts of it, if the traditional pension is reinstated, will it be retroactive, as if the cash balance plan never happened? Or will the money accumulated in the PPP be distributed at retirement/termination? Also, will it be possible for the company to make an offer to employees before a union vote in hopes of keeping it out? Something that might require us to give up any aspirations of a union in exchange for taking a deal? I'm at $17.09 after 11 years with no acknowledgment of the 11 years I worked before quitting and being rehired other than increasing my traditional pension until it was terminated. If they suddenly offered me $22hr+ and more in the PPP in exchange for voting against a union I'd have to take it. No doubt they'd as soon keep me at $17.09 but even they have to know it'll take a substantial improvement for most of us to keep the union out. I'm all for us getting close to UPS pay but they most likely will figure out a way to royally screw us if faced with much higher costs. They've made it very clear that we are here to make them very wealthy and if we don't like it we can leave. Don't see them rolling over for a union based on the last 20 years.
No, I can't see there being anything retro active. My thought here is that the monies accumulated would just be put back into the regular traditional account (only my opinion here). One of the main concerns that a few people have had at my place is asking questions about our health care plan now that the Federal Legislation has passed.
I have gone over some of the points of the Legislation and this is what I have gathered. First, most of this doesn't even take place until 2014. Second, it mainly effects single/college kids, the elderly, and low income. Third, since we all have jobs and a health care plan, our employer Fed Ex will have to continue to provide coverage or face a $2,000 fine per employee times 275,000 employees! Do the math, that is one hefty fine.
As far as your idea about voting against a union if offered $5 more an hour, I don't think that would happen, but I would urge you to re-consider. If your thinking long term, as Mr. Fed Ex has presented in other postings on this site in regards to the differences between the PPP and the traditional plan, we are getting hosed. Now I don't know if you have private investments somewhere else, if you are debt free, or can save your money and invest it else where, but chances are you will not be able to re-coup the amount of money from the differences in between these two plans. I suggest that maybe you look into the differences of the two to try and become better informed.