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Fedex Freight is merging with Express Pension????
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<blockquote data-quote="bacha29" data-source="post: 5591589" data-attributes="member: 58386"><p>There is a provision whereby when a company can prove that they have over funded their pension plan they can apply to withdraw the excess amount. Can't say for certain that this was the case with JD and WB but it sounds like it. </p><p></p><p>Now when you think about it there will likely be a larger number of Express retirees drawing benefits out of the pension plan. That comes at a time when it all goes "according to plan" (lol) you'll have a much smaller FDX Express. By the looks of things Freight is now being encumbered with having to provide revenue support for a plan from which not their own employees will be drawing benefits but all of those Express retirees as well. Only question is whether or not Express after the restructuring will continue to provide economic support for the merged plan . </p><p></p><p>You guys who spotted this coming can take a bow. In the end a drastically downsized Express will jettison or force into retirement all of it's veteran full time employees and will replace them with low wage, zero benefit throw away temporaries and with the minimum driving age now or soon will be 18 this thing is becoming ever more what you said it's going to become.</p><p></p><p>I know you guys know more about this than I do but this seems in keeping with what you guys are saying and that is that there never really was an actual conversion plan in place and everything is a spur of the moment quick fix and this latest "rabbit out of the hat" trick is even more bizarre given that just a few years ago plans were well underway to sell Freight to Old Dominion.</p></blockquote><p></p>
[QUOTE="bacha29, post: 5591589, member: 58386"] There is a provision whereby when a company can prove that they have over funded their pension plan they can apply to withdraw the excess amount. Can't say for certain that this was the case with JD and WB but it sounds like it. Now when you think about it there will likely be a larger number of Express retirees drawing benefits out of the pension plan. That comes at a time when it all goes "according to plan" (lol) you'll have a much smaller FDX Express. By the looks of things Freight is now being encumbered with having to provide revenue support for a plan from which not their own employees will be drawing benefits but all of those Express retirees as well. Only question is whether or not Express after the restructuring will continue to provide economic support for the merged plan . You guys who spotted this coming can take a bow. In the end a drastically downsized Express will jettison or force into retirement all of it's veteran full time employees and will replace them with low wage, zero benefit throw away temporaries and with the minimum driving age now or soon will be 18 this thing is becoming ever more what you said it's going to become. I know you guys know more about this than I do but this seems in keeping with what you guys are saying and that is that there never really was an actual conversion plan in place and everything is a spur of the moment quick fix and this latest "rabbit out of the hat" trick is even more bizarre given that just a few years ago plans were well underway to sell Freight to Old Dominion. [/QUOTE]
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