United Parcel Service Inc. plans to freeze pension plans for about 70,000 nonunion employees.
The Atlanta-based global logistics company said Tuesday it will freeze pension benefits in five years for nonunion workers. It will move those individuals to 401(k) accounts and contribute funds to those retirement plans.
UPS has more than 434,000 workers worldwide, with more than 80 percent in the U.S. Most of them are unionized and won’t be affected by the changes.
UPS is trying to make a dent in…