21 02, 2024

UPS to drive $1.2 billion into U.S. pension plans in 2024

2024-02-21T10:10:24-08:00February 21st, 2024|Categories: Defined Benefit Plans|Tags: , , |

By Rob Koslowski Source: Pensions & Investments United Parcel Service Inc., Atlanta, plans to contribute $1.2 billion to its U.S. pension plans in 2024. The shipping company disclosed its plans in its Feb. 20 10-K filing with the SEC. UPS previously contributed $1.2 billion to the U.S. pension plans in 2023 and $2 billion to the plans in 2022. Read the full article

2 05, 2022

Retirees sue UPS alleging company shortchanged pension benefits

2022-05-02T13:55:25-07:00May 2nd, 2022|Categories: Retirement|Tags: , |

By Robert Steyer Source: Pensions & Investments Eight former employees in two defined benefit plans run by United Parcel Service of America Inc. have sued the company and plan fiduciaries alleging they were shortchanged in their retirement benefits because the plans used out-of-date mortality tables to calculate the benefits. They allege that retirees who took joint and survivor annuity benefits instead of a single life annuity didn't receive the actuarial equivalent of the SLA, the most common annuity for [...]

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