UPS Pension Issue Raises Speculation Among Truckers

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A tentative agreement that establishes terms for a potential UPS pullout from one of the country’s biggest pension funds has drawn speculation about its significance from trucking and labor experts.

The Teamsters International union announced last week that UPS had reached an agreement in principle with the Central States Pension Fund setting conditions for a possible withdrawal from the multiemployer fund. The agreement paves the way for UPS and the Teamsters to return to bargaining on a new contract, which was suspended last month while the pension issue remained unresolved.

Terms of the UPS-Central States agreement have not been disclosed.

The pension fund has about 150,000 active participants, of which about 42,000 are UPS workers. The next biggest participant is YRC Worldwide Inc. of Overland Park.

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