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<blockquote data-quote="quadro" data-source="post: 578349" data-attributes="member: 12850"><p>You've got part of it right but you've also made some very, very broad assumptions that may or may not be true for each indvidual.</p><p> </p><p>The 5% contribution is not fixed at 5%. It depends on your age and years of service. As you get older and your have more service years under your belt, the % contribution goes up.</p><p> </p><p>Without doing the math, I'm pretty sure just logically your calculation about peoples' "final" pension is wrong. It just depends on how long someone has worked for FedEx and whether they choose to stay with FedEx. There are a lot of employees who had less than 25 years and are going to come out much, much better off. I'm sure there are people who would have been better off if the DBPP stuck around so again, it just depends on the individual. </p><p> </p><p>Also, logically, I'm not sure how you figure that as employee tenure goes up and more people retire that FedEx would pay less unless you are referring to the ERISA change that caused FedEx to end the DBPP and switch to a PPP. Like it or not, the change in the law meant that it was impossible for many companies to continue with a DBPP, especially with the economy doing what it is doing. Just look at the number of companies that have, or actually don't have, a defined benefit plan. I'm not saying it's right or wrong, it's just the economics of it.</p><p> </p><p>As for someone getting a third of what they would have, again, it really depends on the individual, what they do with their career, what their plans and goals are for retirement, etc. </p><p> </p><p>And the RLA thing has nothing to do with it. If enough couriers at FedEx wanted a union, there's nothing stopping them under the RLA from having a union. Keep in mind that a far higher percentage of employees covered under RLA are union compared to the number of employees covered under NLRA.</p></blockquote><p></p>
[QUOTE="quadro, post: 578349, member: 12850"] You've got part of it right but you've also made some very, very broad assumptions that may or may not be true for each indvidual. The 5% contribution is not fixed at 5%. It depends on your age and years of service. As you get older and your have more service years under your belt, the % contribution goes up. Without doing the math, I'm pretty sure just logically your calculation about peoples' "final" pension is wrong. It just depends on how long someone has worked for FedEx and whether they choose to stay with FedEx. There are a lot of employees who had less than 25 years and are going to come out much, much better off. I'm sure there are people who would have been better off if the DBPP stuck around so again, it just depends on the individual. Also, logically, I'm not sure how you figure that as employee tenure goes up and more people retire that FedEx would pay less unless you are referring to the ERISA change that caused FedEx to end the DBPP and switch to a PPP. Like it or not, the change in the law meant that it was impossible for many companies to continue with a DBPP, especially with the economy doing what it is doing. Just look at the number of companies that have, or actually don't have, a defined benefit plan. I'm not saying it's right or wrong, it's just the economics of it. As for someone getting a third of what they would have, again, it really depends on the individual, what they do with their career, what their plans and goals are for retirement, etc. And the RLA thing has nothing to do with it. If enough couriers at FedEx wanted a union, there's nothing stopping them under the RLA from having a union. Keep in mind that a far higher percentage of employees covered under RLA are union compared to the number of employees covered under NLRA. [/QUOTE]
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