UPS to deliver $2.3 billion pension contribution, pays out $685 million in lump sums - Pensions & Investments
United Parcel Service Inc., Atlanta, plans to contribute $2.3 billion to its U.S. defined benefit plans in 2017, the company announced in a 10-K filing with the SEC.
UPS also announced in the 10-K it made $685 million in lump-sum payments in the fourth quarter to about 22,000 former employees in the company's U.S. defined benefit plans.
UPS had made the offer to about 50,000 former employees who were vested in the U.S. defined benefit plans but who had yet to retire. The population consisted of former employees in non-union and some union plans who had terminated their UPS employment between July 2003 and June 2016.
United Parcel Service Inc., Atlanta, plans to contribute $2.3 billion to its U.S. defined benefit plans in 2017, the company announced in a 10-K filing with the SEC.
UPS also announced in the 10-K it made $685 million in lump-sum payments in the fourth quarter to about 22,000 former employees in the company's U.S. defined benefit plans.
UPS had made the offer to about 50,000 former employees who were vested in the U.S. defined benefit plans but who had yet to retire. The population consisted of former employees in non-union and some union plans who had terminated their UPS employment between July 2003 and June 2016.
