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UPS to freeze pension plans for nonunion staffers
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<blockquote data-quote="Catatonic" data-source="post: 2927827" data-attributes="member: 7966"><p><u>E-mail message to UPS Alumni:</u></p><p></p><p>Today we announced that we’re changing the way we deliver retirement benefits to our active union-free people in the U.S. This change will take place on January 1, 2023.</p><p></p><p><strong>This change does not affect your current or future benefit payments from the UPS Retirement Plan.</strong> Although it doesn’t affect your benefits, we wanted to ensure you were aware of the change.*</p><p></p><p>Instead of earning benefits in the UPS Retirement Plan, active participants will earn enhanced benefits in the UPS 401(k) Savings Plan staring January 1, 2023. Any benefits they earn through December 31, 2022 will not be affected. We’re announcing this change five years in advance to help our affected people prepare.</p><p></p><p>This decision was made after an extensive and thoughtful evaluation of our retirement benefits. Great care was taken to balance the effect on our people with the right outcomes for our business.</p><p></p><p>We know how important a financially secure retirement is for our people and their families. Rest assured we remain committed to offering comprehensive and competitive benefits.</p><p></p><p><strong>Again, this change does not affect your benefits.</strong></p><p></p><p>You’ll also receive a letter to your home within the coming days. Please visit <a href="http://links.mkt1887.com/ctt?kn=1&ms=NTQzNzIzNTES1&r=Mjc5MjE2MzEwMDEyS0&b=0&j=MTE4NDY2NTUyOAS2&mt=1&rt=0" target="_blank">UPSers.com </a>for more information.</p><p></p><p>Thank you for your service to UPS.</p></blockquote><p></p>
[QUOTE="Catatonic, post: 2927827, member: 7966"] [U]E-mail message to UPS Alumni:[/U] Today we announced that we’re changing the way we deliver retirement benefits to our active union-free people in the U.S. This change will take place on January 1, 2023. [B]This change does not affect your current or future benefit payments from the UPS Retirement Plan.[/B] Although it doesn’t affect your benefits, we wanted to ensure you were aware of the change.* Instead of earning benefits in the UPS Retirement Plan, active participants will earn enhanced benefits in the UPS 401(k) Savings Plan staring January 1, 2023. Any benefits they earn through December 31, 2022 will not be affected. We’re announcing this change five years in advance to help our affected people prepare. This decision was made after an extensive and thoughtful evaluation of our retirement benefits. Great care was taken to balance the effect on our people with the right outcomes for our business. We know how important a financially secure retirement is for our people and their families. Rest assured we remain committed to offering comprehensive and competitive benefits. [B]Again, this change does not affect your benefits.[/B] You’ll also receive a letter to your home within the coming days. Please visit [URL='http://links.mkt1887.com/ctt?kn=1&ms=NTQzNzIzNTES1&r=Mjc5MjE2MzEwMDEyS0&b=0&j=MTE4NDY2NTUyOAS2&mt=1&rt=0']UPSers.com [/URL]for more information. Thank you for your service to UPS. [/QUOTE]
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