The Pension Benefit Guaranty Corporation announced last week that it approved a payment of $1.29 billion to the Graphic Communications Conference of the IBT Pension Plan, to prevent drastic pension cuts in the plan, which has 31,715 retirees and working Teamsters.

Hoffa-era contract givebacks continue to pay off for UPS. The company made $3.662 billion in operating profit in the first quarter, a $300 million increase over the same period last year. The money is there and we’re going to come for it in the 2023 contract.