UPS is committed to protecting our employees and retirees and will always advocate on their behalf. Our people are our company’s greatest asset and we will stand by our commitment to them both now and in their retirement. The update to the multi-employer pension process being considered by Congress will not change our contractual obligation and no policy will change our commitment to our people.
We are surprised the Teamsters are calling this a bailout and a special interest earmark – nothing can be further from the truth. UPS is standing by its contractual commitment to our union employees under the collective bargaining agreement and has advocated to protect our employees’ benefits during this process.