Anyone can see how little UPS puts away for its people by examining the UPS Pension Plan. That's the plan that covers UPS part-timers in the Central States region. UPS runs the fund and has for decades. When it comes to providing for part-time retirees, the fund is pitiful.Trouble is, for many, the money that UPS "put away" for their employees retirement was squandered supporting other non-UPS Teamsters...and didn't benefit UPS employees at all.
In that sense, "yes", I believe that UPS would have "put that money away for YOU" - and ONLY for"you", and not flushed down the toilet trying to buy off non-employees - if it had been given the opportunity. As for contractual agreements, I don't think UPS ever agreed to bail-out the entire Teamster pension fund scheme, nor did they agree to any proposal by the Teamsters to ignore organizing the competition and/or drive other employer/contributors to the multi-employer pension funds out of business. That's solely the union's doing.
Beyond that, remember the "memorandum of understanding" the Teamsters signed a few years back regarding the funding level of Central States? And remember how they simply failed to honor it? By that I mean that "yes", contracts are AGREED upon by both parties...but, when it came to pensions, the Teamsters have had a history of not honoring their side of the bargain.
More recently UPS created a new fund just for UPS full-timers in the Central States region. It's pension accrual rates are lower than any Teamster sponsored fund.
The Teamsters didn't fund (or underfund) Central States, employers, like UPS, did. All the Teamsters could do is try to negotiate higher contribution rates by companies like UPS. They can't make UPS agree to those higher rates. Besides, rather than shore up the fund, UPS, the largest employer, withdrew from Central States, thus further damageing the fund's financial health.