UPS to freeze pension plans for nonunion staffers

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UPS to freeze pension plans for nonunion staffers - Fox Business

United Parcel Service is planning to freeze pension plans for thousands of nonunion employees, seeking to contain the burden of a retirement fund with a nearly $10 billion deficit.

The carrier is expected to announce measures to corral the rising pension obligations to its workforce Wednesday, people familiar with the matter said. Other details couldn't be learned.

UPS has more than 434,000 workers world-wide, with more than 80% in the U.S. Most of them are unionized. Any retirement-plan changes would apply only to management employees, who number 78,000.
 
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