UPS to freeze pension plans for non-union employees
UPS is freezing pensions for 70,000 non-union workers.
LOUISVILLE, Ky. (WDRB) -- UPS is freezing pensions for 70,000 non-union workers.
The company is reportedly trying to limit the damage of a retirement fund that has a nearly 10-billion dollar deficit.
According to the Wall Street Journal, the freeze will start Jan. 1, 2023.
The company stopped offering pension plans to new hires in July of 2016.
UPS has more than 434,000 workers worldwide, with more than 80 percent in the U.S. Most of them are with the union.
Copyright 2017 WDRB Media. All rights reserved.