Word Merge If Statement not Working Correctly

[FoundOps]

Hi,
I have this IF statement, as far as I know it looks good. However, it's not returning what I think it should. It returns "Req_Codes_Fund" no matter the data in the field.
In a normal boolean expression, all I want is "If code = A or B then Person 1; else Jane D."

{IF MERGEFIELD Req_Codes_Fund = "A" "Person 1
Job Title
Phone
Email" "{IF MERGEFIELD Req_Codes_Fund = "B" "Person 1
Job Title
Phone
Email" "Jane D."}"}

I'm using Office 2010 Professional. Any help is greatly appreciated! Thanks!