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Hey Rob,

From what I recall of your rough expectations, I think you'll probably get what you anticipate. (That's from knowing what Dad got.)

Upon further reflection, I think it would be difficult for Ford to give their retirees a lesser deal. Not due to any legal reason (IMO), but just from a political and PR perspective.

Actually, there are very specific legal requirements. Deloitte was specific that Ford didn't generate these numbers and that they were generated according to guidelines. So, this isn't a lowball, cutrate offer of any kind. It's an industry standard kind of thing.

As you say, that may not necessarilly be the case in the future. I don't have a feel for how easy it is to work around these laws. Ford's compliance may have been voluntary. Alternatively, there may be no workaround in pension law outside of bankruptcy. I just don't know and that wasn't clear. The Deloitte rep was pretty clear that there was no other-shoe-to-drop, but that's also his job. And undoubtedly, they'd have little knowledge to base that conclusion on anyway.

I think you'll be pleased with the offer when you receive it and that you'll do much better with it. The bar to make it work, in terms of total return, just isn't that high.

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