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<blockquote data-quote="quadro" data-source="post: 581311" data-attributes="member: 12850"><p>I understand that. I think I misunderstood what you were saying. Having reread what you said, I believe what you are saying is that with all the right to work states, there aren't enough people who would vote for a union under the RLA. I guess if the classification changes and some locations went union, the other locations could wait and see how things work out for the union locations. </p><p> </p><p></p><p>The old plan was fully funded, actually it was above 100% if I remember correctly. The PPA of 2006 changed how it had to be funded each year. If you believe that FedEx could have made those fund payments each and every year based on the new rules, then that's fine. I think you'll find, however, that wasn't the case and hence the change. Again, I'm not saying the PPP is or is not a good plan, I'm just pointing out that the investment losses that defined benefit plans incurred over the last year or so would have required hundreds of millions, if not billions of dollars, in new funds to meet the requirements under the PPA. FedEx certainly wasn't the only large corporation that faced this problem.</p></blockquote><p></p>
[QUOTE="quadro, post: 581311, member: 12850"] I understand that. I think I misunderstood what you were saying. Having reread what you said, I believe what you are saying is that with all the right to work states, there aren't enough people who would vote for a union under the RLA. I guess if the classification changes and some locations went union, the other locations could wait and see how things work out for the union locations. The old plan was fully funded, actually it was above 100% if I remember correctly. The PPA of 2006 changed how it had to be funded each year. If you believe that FedEx could have made those fund payments each and every year based on the new rules, then that's fine. I think you'll find, however, that wasn't the case and hence the change. Again, I'm not saying the PPP is or is not a good plan, I'm just pointing out that the investment losses that defined benefit plans incurred over the last year or so would have required hundreds of millions, if not billions of dollars, in new funds to meet the requirements under the PPA. FedEx certainly wasn't the only large corporation that faced this problem. [/QUOTE]
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