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The Latest UPS Headlines
UPS, Teamsters wrap up liability withdrawal agreement
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<blockquote data-quote="cheryl" data-source="post: 1027091" data-attributes="member: 1"><p><a href="http://www.pionline.com/article/20120917/DAILYREG/120919902/ups-teamsters-wrap-up-liability-withdrawal-agreement" target="_blank"><strong>UPS, Teamsters wrap up liability withdrawal agreement - Pensions and Investments</strong></a></p><p></p><p>United Parcel Service Inc., Atlanta, and the $2.6 billion New England Teamsters & Trucking Industry Pension Fund, Burlington, Mass., finalized their agreement to restructure pension liabilities that calls for UPS to pay $1.2 billion in withdrawal liabilities to the union pension fund, according to a company filing Monday with the SEC.</p><p></p><p>The agreement also includes the creation of a new structure in which UPS will be liable only for the pension benefits of its own Teamster-represented employees. Under the previous multiemployer structure, contributions made by UPS also supported pension benefits of non-UPS participants.</p></blockquote><p></p>
[QUOTE="cheryl, post: 1027091, member: 1"] [URL="http://www.pionline.com/article/20120917/DAILYREG/120919902/ups-teamsters-wrap-up-liability-withdrawal-agreement"][B]UPS, Teamsters wrap up liability withdrawal agreement - Pensions and Investments[/B][/URL] United Parcel Service Inc., Atlanta, and the $2.6 billion New England Teamsters & Trucking Industry Pension Fund, Burlington, Mass., finalized their agreement to restructure pension liabilities that calls for UPS to pay $1.2 billion in withdrawal liabilities to the union pension fund, according to a company filing Monday with the SEC. The agreement also includes the creation of a new structure in which UPS will be liable only for the pension benefits of its own Teamster-represented employees. Under the previous multiemployer structure, contributions made by UPS also supported pension benefits of non-UPS participants. [/QUOTE]
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UPS, Teamsters wrap up liability withdrawal agreement
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