Discussion in 'YRC Freight' started by hojim, Jun 27, 2017.
If they'll do it to the non-union employees they'll do it to the union too, or try to.
UPS to Freeze Pensions for 70,000 Nonunion Workers to Cut Costs
I wonder what effect this will have on the upcoming UPS-Teamster National Contract negotiations where improvements to the UPS/IBT Full-Time Employee Pension Plan could be negotiated?
UPS To Cease Pension Plan For Non-Unionized Employees
So according to the article,UPS will contribute to non union employee 401K plans...they may be better off in the long run...,
Like most corporate pension sponsors, UPS fell victim to historically low interest rates. Companies calculate the value of future benefits based on interest rates. Obligations rise when rates fall. A precipitous drop in interest rates—which have stayed lower for longer than many pension managers expected after the financial crisis—helped drive up the shipper’s deficit.
Thank you Federal Reserve.