Stated as a rumor, treat it as such till the event happens. The act of eliminating a traditional pension plan and replacing it with a match 401k would be a cost cutter, it appears that most companies are starting to do this especially if they do not have to deal with a unionized workforce. If they do decide to get rid of the UPS Retirement Plan, the years you have vested are protected, presuming they will bump the non union, non management workforce into the UPS Pension Plan, which covers most of the part time union employees. Been done before, now as far as the management people with the better perks and salaries they should be comfortable with selling their stock and matching 401k options when they become eligible for retirement. That is one of the reasons that this rumor would be consider plausible.
If these folks are so well rewarded for so little work why don't you jump on the bandwagon and enter the ranks of management?
Oh, I know, you would rather work hard for less money and carp about upper management.
