By Doug Cunningham

If Teamster workers approve a tentative contract with UPS reached over the weekend, UPS will pull out of the Central States pension fund. Is that a good thing for Teamsters' UPS workers? Ken Hall, the Teamsters' Parcel and Small Package Division Director, says that it is.

[Hall]: “Once the employees are no longer covered by Central States, they will be transferred to a newly-established, jointly-trusteed UPS/Teamster plan, where those employees will actually see increases in their pension benefits."

Hall says this new contract provides about a $1.80 per hour per worker increase in wages and benefits in each year of the new contract. The Central States fund will get $6.1 billion from UPS as the company withdraws from the plan--improving its financial picture, but leaving it still underfunded. Hall says pensions were the number one concern of UPS Teamsters.

[Hall]: "Pension benefits and health care were the number one issues for them, even more so than wages. And so, in this contract we addressed those concerns, both in terms of the participants in Central States as well as the other 20-some plans that our members are covered under. We're very happy and looking forward to the ratification."