UPS Warns of $3.8 Billion Cost If U.S. Backs Pension-Benefit Cut

Discussion in 'The Latest UPS Headlines' started by cheryl, Apr 28, 2016.

  1. cheryl

    cheryl I started this. Staff Member

    UPS Warns of $3.8 Billion Cost If U.S. Backs Pension-Benefit Cut - Bloomberg
    • Treasury considers change to keep pension fund solvent
    • Courier profit tops analysts' estimates on strong U.S. results
    United Parcel Service Inc. warned it may have to take a charge of as much as $3.8 billion related to a potential pension-fund obligation.

    The cost would be triggered if the U.S. Treasury Department approves benefit cuts to protect the solvency of the Central States Pension Fund, UPS executives said Thursday. UPS pulled out of the fund in 2007 but agreed to make up any losses its remaining members experienced.