Finance committee  Yes. As you know, CN is part of a group of seven companies that had a lot of discussions over the last few years, and this is one topic that we discussed at length. Pensions in any area are a balancing act. We did discuss removing the threshold or making the recommendation to remove that threshold altogether, but in general the consensus was that this might not be acceptable at this time because it would be asking for too much.

Finance committee  Thank you for the question. This is an interesting one. We've been having a lot of discussions on that. We did an interesting exercise at CN, and we have to communicate a little bit more with the unions and the pensioners. As you know, the solvency test started in 1989, and CN has always been in the position where we've been in the solvency surplus throughout all those years.

Finance committee  Thank you for the question. This is a good question. In fact, in our recommendations, which we've submitted to Mr. Menzies' committee, we have recommended that this threshold be increased so that contributions would be.... In fact, we talked about many options this morning as to how we could improve the whole pension system.

Finance committee  First of all, letters of credit are not easy to obtain these days, so that's something we would not like to have as a constraint for the 10-year amortization we are recommending. Letters of credit, nonetheless, can be used to make the payments that would otherwise be made in the plan, or to cover the payments that would otherwise be made in the plan, and whenever the situation turned around, these payments could be made.