UPS 2014 Annual Report Download - page 95

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UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
83
Multiemployer Pension Plans
The following table outlines our participation in multiemployer pension plans for the periods ended December 31, 2014, 2013
and 2012, and sets forth our calendar year contributions accrued for each plan. The “EIN/Pension Plan Number” column provides the
Employer Identification Number (“EIN”) and the three-digit plan number. The most recent Pension Protection Act zone status
available in 2014 and 2013 relates to the plans’ two most recent fiscal year-ends. The zone status is based on information that we
received from the plans’ administrators and is certified by each plan’s actuary. Among other factors, plans certified in the red zone are
generally less than 65% funded, plans certified in the orange zone are both less than 80% funded and have an accumulated funding
deficiency or are expected to have a deficiency in any of the next six plan years, plans certified in the yellow zone are less than 80%
funded, and plans certified in the green zone are at least 80% funded. The “FIP/RP Status Pending/Implemented” column indicates
whether a financial improvement plan (“FIP”) for yellow/orange zone plans, or a rehabilitation plan (“RP”) for red zone plans, is
either pending or has been implemented. As of December 31, 2014, all plans that have either a FIP or RP requirement have had the
respective FIP or RP implemented.
Our collectively-bargained contributions satisfy the requirements of all implemented FIPs and RPs and do not currently require
the payment of any surcharges. In addition, minimum contributions outside of the agreed upon contractual rate are not required. For
the plans detailed in the following table, the expiration date of the associated collective bargaining agreements was July 31, 2018, with
the exception of the Automotive Industries Pension Plan and the IAM National Pension Fund / National Pension Plan which both have
a July 31, 2019 expiration date. For all plans detailed in the following table, we provided more than 5% of the total plan contributions
from all employers for 2014, 2013 and 2012 (as disclosed in the Form 5500 for each respective plan).
Certain plans have been aggregated in the “all other multiemployer pension plans” line in the following table, as the
contributions to each of these individual plans were not material.
EIN / Pension
Plan
Pension
Protection Act
Zone Status
FIP/RP Status
Pending/
(in millions)
UPS Contributions and
Accruals Surcharge
Pension Fund Number 2014 2013 Implemented 2014 2013 2012 Imposed
Alaska Teamster-Employer Pension Plan 92-6003463-024 Red Red Yes/Implemented $ 5 $ 5 $ 4 No
Automotive Industries Pension Plan 94-1133245-001 Red Red Yes/Implemented 5 4 4 No
Central Pennsylvania Teamsters Defined Benefit Plan 23-6262789-001 Green Green No 33 30 29 No
Employer-Teamsters Local Nos. 175 & 505 Pension
Trust Fund 55-6021850-001 Red Green Yes/Implemented 10 9 9 No
Hagerstown Motor Carriers and Teamsters Pension Fund 52-6045424-001 Red Red Yes/Implemented 6 5 5 No
I.A.M. National Pension Fund / National Pension Plan 51-6031295-002 Green Green No 27 27 24 No
International Brotherhood of Teamsters Union Local
No. 710 Pension Fund 36-2377656-001 Green Green No 89 88 75 No
Local 705, International Brotherhood of Teamsters
Pension Plan 36-6492502-001 Red Red Yes/Implemented 69 68 46 No
Local 804 I.B.T. & Local 447 I.A.M.—UPS
Multiemployer Retirement Plan 51-6117726-001 Red Red Yes/Implemented 92 88 87 No
Milwaukee Drivers Pension Trust Fund 39-6045229-001 Green Green No 32 29 26 No
New England Teamsters & Trucking Industry Pension
Fund 04-6372430-001 Red Red Yes/Implemented 108 102 124 No
New York State Teamsters Conference Pension and
Retirement Fund 16-6063585-074 Red Red Yes/Implemented 81 72 65 No
Teamster Pension Fund of Philadelphia and Vicinity 23-1511735-001 Yellow Yellow Yes/Implemented 50 46 44 No
Teamsters Joint Council No. 83 of Virginia Pension Fund 54-6097996-001 Yellow Yellow Yes/Implemented 52 49 44 No
Teamsters Local 639—Employers Pension Trust 53-0237142-001 Green Green No 45 41 36 No
Teamsters Negotiated Pension Plan 43-6196083-001 Yellow Yellow Yes/Implemented 27 26 24 No
Truck Drivers and Helpers Local Union No. 355
Retirement Pension Plan 52-6043608-001 Yellow Yellow Yes/Implemented 16 14 14 No
United Parcel Service, Inc.—Local 177, I.B.T.
Multiemployer Retirement Plan 13-1426500-419 Red Red Yes/Implemented 85 68 62 No
Western Conference of Teamsters Pension Plan 91-6145047-001 Green Green No 604 553 520 No
Western Pennsylvania Teamsters and Employers Pension
Fund 25-6029946-001 Red Red Yes/Implemented 24 23 24 No
All Other Multiemployer Pension Plans 57 49 59
Total Contributions $1,517 $1,396 $1,325