Our actuarial costing model is for the most part complete, and Segal continues working with Mercer and FedEx management to fine-tune the details. As we get deeper into this effort it has become increasingly clear that we need to consider hiring a consulting firm that specializes in retirement plan design to assist this effort. To that end, we have approached David Blitzstein Consulting to work alongside the actuaries of the Segal Group. We recently concluded baseline polling on retirement, and are using this data to determine what particulars of retirement plan design need to be further explained. We plan to ratchet up crew room meetings and communications to further discuss retirement plan considerations going forward.

To be absolutely clear, there is no bargaining on retirement taking place, nor will there be without your inclusion. This is a methodical, rational approach to allow us each to thoroughly consider our options once those options have been identified and explained.


Captain Chuck Dyer
FedEx MEC Chairman



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