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Teamsters Reach Out to FedEx Freight Drivers Nationwide
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<blockquote data-quote="bacha29" data-source="post: 2414317" data-attributes="member: 58386"><p>A severance package can come in to play for a variety of reasons. Downsizing, plant closing and that can be for a number of reasons including bought out by another company forced retirement etc. Unless there is a contract in place or a stated company policy in force a severance package is by no means certain. Keep in mind also a defined benefit pension plan means a defined monthly benefit and the company has to contribute enough to keep the plan solvent enough to pay the benefits. The PPA is a defined contribution plan and how much it's worth at the time of liquidation could be zero to millions. In a zero interest environment keeping a defined benefit plan going takes some huge contributions and Fred loved his employees so much that he decided to put you them into a defined contribution plan because it would be the best thing for you. What a great, great, guy. But I bet management group employees still have their defined benefit plan. They still do over at Ground.</p></blockquote><p></p>
[QUOTE="bacha29, post: 2414317, member: 58386"] A severance package can come in to play for a variety of reasons. Downsizing, plant closing and that can be for a number of reasons including bought out by another company forced retirement etc. Unless there is a contract in place or a stated company policy in force a severance package is by no means certain. Keep in mind also a defined benefit pension plan means a defined monthly benefit and the company has to contribute enough to keep the plan solvent enough to pay the benefits. The PPA is a defined contribution plan and how much it's worth at the time of liquidation could be zero to millions. In a zero interest environment keeping a defined benefit plan going takes some huge contributions and Fred loved his employees so much that he decided to put you them into a defined contribution plan because it would be the best thing for you. What a great, great, guy. But I bet management group employees still have their defined benefit plan. They still do over at Ground. [/QUOTE]
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