The ratification took place when five local supplementary or driver agreements were approved in a second round of workers` voting. Last month, the UPS National Master Agreement was approved by 65% of voting staff. WASHINGTON, D.C., December 19, 2007 – The International Brotherhood of Teamsters today announced UPS (NYSE:UPS) that a new contract has been certified and ratified for approximately 240,000 USB employees. « We are pleased to hear that everything is now available to implement our agreement with the Teamsters, » said Mike Eskew, UpS President and CEO. « This agreement helps ensure that UPS is well positioned to succeed in the years to come. » The base contract was negotiated almost one year before the expiry of the current contract on July 31, 2008 and extended coverage until July 31, 2013. The new contract provides for wage increases as well as significant contributions to health and retirement plans to strengthen these benefits for workers. The agreement allows UPS to remove workers from the central government multi-employer pension plan and establish a joint trust employer plan for this group. UPS will make a pre-tax payment of $6.1 billion to the central government plan on December 26, 2007 as part of its withdrawal. A more detailed explanation of the treaty`s provisions will be available on investor.shareholder.com/ups after 10 .m EST on 20 December. AFFILIATED WITH THE INTERNATIONAL BROTHERHOOD OF TEAMSTERS – TEAMSTERS JOINT COUNCIL 37 You must have installed Adobe Acrobat Reader to view the pdf file. (Click on the image to download Acrobat Reader.) UpS, which celebrates its 100th anniversary in 2007, is the world`s largest parcel delivery company and the world`s leading provider of supply chain services and offers a wide range of options for synchronizing the exchange of goods, information and funds. Headquartered in Atlanta, Ga., UPS serves more than 200 countries and territories around the world.
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