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The U.S. Treasury Department will issue a decision this week whether to approve or disapprove the drastic pension cut plan proposed by the Central States Fund. A lot is riding on the decision – and even more is riding on what comes after the decision.
UPS made $1.1 billion in profit in the first three months of the year—a 10 percent increase over last year. But executives complained the company is the real victim if the Treasury Department approves Central States pension cuts for 400,000 Teamsters.