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News Breaks | | | | September 17, 2012 | | 11:39 EDT |  | UPS | UPS enters agreement with Teamsters to restructure pension
On September 16, United Parcel Service entered into a binding agreement with the New England Teamsters and Trucking Industry Pension Fund to restructure pension liabilities to the Fund, following ratification by local unions affiliated with the International Brotherhood of Teamsters of changes to contracts affected by this agreement. As previously announced, as a result of entering into the Agreement, in the current quarter, the company will record a liability of $896M, representing the present value of the company's $2.1B withdrawal liability from an existing funding pool under the Fund, which it will pay in equal monthly installments over 50 years. The withdrawal from that funding pool was effective September 16. The Fund may declare this withdrawal liability immediately payable only if a scheduled payment by the company is not timely made and not paid within sixty days of receiving written notice of the missed payment. | |
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News For UPS From The Last 14 Days Check below for free stories on UPS the last two weeks. |
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| June 18, 2013 | | 07:19 EDT |  | UPS | Eyefortransport to hold a summit
 Subscribe for More Information | | | June 17, 2013 | | 10:32 EDT | | UPS | UPS management to meet with BB&T
Subscribe for More Information | | | June 13, 2013 | | 06:03 EDT |  | UPS | FedEx to fight U.S. in online pharmacy investigation, Bloomberg reports
FedEx Corp. (FDX) said it will fight any charges that may result from a federal investigation into drug shipments by illegal online pharmacies, bucking both government investigators and rival United Parcel Service (UPS) which settled similar allegations, reports Bloomberg. Reference Link | |
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