UPS Retirees Lose Takings Suit Challenging Teamsters Pension Cut

United Parcel Service Inc. retirees challenging government decisions that allowed their Teamsters pensions to be cut by up to 29% lost their lawsuit on Friday claiming they’d been subject to an unconstitutional taking of property.

The government-approved reduction in the retirees’ benefits didn’t have a significant enough economic impact to be an unconstitutional regulatory taking of property, the US Court of Federal Claims ruled. The court explained that the retirees had their benefits reduced by 29% over a six-year period, and later received make-up payments and had their benefits restored under a 2021 federal law.

The class action by ...