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Article: Teamsters OK pact creating UPS pension fund.(Pension Funds)(International Brotherhood of Teamsters)(United Parcel Service of America Inc.)
- Article from:
- Pensions & Investments
- Article date:
- November 26, 2007
- Author:
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Barry B. Burr
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Correction: United Parcel Service Inc. officials have not yet decided whether to hire an investment consultant to assist with the defined benefit pension plan being created jointly by UPS and the International Brotherhood of Teamsters, nor where the new fund will be based, according to a UPS spokesman, clarifying his statements to P&I for the story in the Nov. 26 issue.
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International Brotherhood of Teamsters members ratified by a 65% vote a contract with United Parcel Services Inc., Atlanta, that includes setting up a jointly trusteed UPS/Teamster defined benefit fund to replace the $21.4 billion ...