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Share Name | Share Symbol | Market | Type |
---|---|---|---|
United Parcel Service | NYSE:UPS | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.57 | -0.39% | 146.65 | 148.20 | 146.42 | 147.96 | 2,039,148 | 00:40:01 |
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ý
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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¨
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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A.
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Full title of the plan and the address of the plan, if different from that of the issuer named below:
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B.
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Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
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Explanatory Note:
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The UPS 401(k) Savings Plan (the "Plan") is a voluntary defined contribution plan established for employees of United Parcel Service of America, Inc. ("UPS") who are not members of a collective bargaining unit and who satisfy the participation requirements of the Plan.
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Page
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FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014:
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NOTE:
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All other schedules required by Section 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.
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2015
|
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2014
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||||
ASSETS:
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|
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|
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||||
Participant-directed investments — at fair value (Note 3)
|
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$
|
6,766,033
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|
|
$
|
7,003,599
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Receivables:
|
|
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||||
Notes receivable from participants
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39,612
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38,812
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||
Participant contributions
|
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1,783
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|
|
—
|
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||
Employer contributions
|
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26,255
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|
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23,966
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Investment income
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184
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|
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206
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||
Total receivables
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67,834
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62,984
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||
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||||
Total assets
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6,833,867
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|
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7,066,583
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LIABILITIES:
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|
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||||
Accounts payable
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2,648
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1,093
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Total liabilities
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2,648
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1,093
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||||
NET ASSETS AVAILABLE FOR BENEFITS
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|
$
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6,831,219
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$
|
7,065,490
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2015
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|
2014
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||||
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||||
NET ASSETS AVAILABLE FOR BENEFITS — Beginning of year
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$
|
7,065,490
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|
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$
|
6,567,095
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INCREASE IN PLAN ASSETS ATTRIBUTED TO:
|
|
|
|
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||||
Participant contributions
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|
299,795
|
|
|
278,551
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Employer contributions (Note 1)
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|
98,921
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91,075
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Participant rollovers
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5,640
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3,746
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Interest and dividend income
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42,448
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39,292
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Total additions
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446,804
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412,664
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||||
DECREASE IN PLAN ASSETS ATTRIBUTED TO:
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||||
Benefits to Plan participants
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(397,984
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)
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(349,267
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)
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Administrative expenses (Note 2)
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(7,510
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)
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(5,097
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)
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Total deductions
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(405,494
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)
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(354,364
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)
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OTHER CHANGES IN NET ASSETS — Net (depreciation) appreciation in fair
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|
|
|
|
||||
value of investments
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(275,581
|
)
|
|
440,095
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||||
NET (DECREASE) INCREASE IN PLAN ASSETS
|
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(234,271
|
)
|
|
498,395
|
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||||
NET ASSETS AVAILABLE FOR BENEFITS — End of year
|
|
$
|
6,831,219
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|
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$
|
7,065,490
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1.
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DESCRIPTION OF THE PLAN
|
•
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Participants may elect to contribute up to 35% of their eligible compensation on a pretax basis or as a Roth 401(k), or any combination of the two, to the Plan.
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•
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Participants may defer up to 100% on a pretax basis of a Management Incentive Program (MIP)/International Management Incentive Program (IMIP) cash award. MIP/IMIP is part of the UPS Incentive Compensation Plan and participants are determined annually by the Compensation Committee of the UPS Board of Directors.
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•
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Participants may defer up to 100% on a pretax basis or to the Roth 401(k), or any combination of the two, of discretionary day pay.
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•
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Participants may defer up to 100% on a pretax basis or to the Roth 401(k), eligible compensation attributable to the Sales Incentive Program (SIP) bonus program.
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•
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Participants may contribute an additional 5% of their eligible compensation on an after-tax basis to the Plan.
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•
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Participants age 50 and older or who will turn 50 during the Plan year are allowed to make pre-tax or Roth 401(k) catch-up contributions, up to an additional 35% of their eligible compensation subject to a maximum of $6,000 for
2015
. The maximum catch-up contribution may be indexed each year for inflation.
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2.
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SIGNIFICANT ACCOUNTING POLICIES
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2015
|
|
2014
|
||||
Investment advisory and management fees
|
|
$
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1,498
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$
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1,439
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Plan administrator fees
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3,663
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|
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3,281
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Personal advisor fees
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$
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2,349
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$
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377
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Total administrative expenses
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$
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7,510
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$
|
5,097
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3.
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FAIR VALUE MEASUREMENTS
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Fair Value Measurements at December 31, 2015
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||||||||||||||
|
|
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
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|
Total
|
||||||||
Self-managed accounts*:
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|||||||
Common stock
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$
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225,908
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$
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—
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|
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$
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—
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|
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$
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225,908
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Mutual funds
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41,157
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|
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—
|
|
|
—
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|
41,157
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||||
Interest-bearing cash
|
|
1,765
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|
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—
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|
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—
|
|
|
1,765
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||||
Common and collective trusts:
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||||||||
Equity funds
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—
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3,130,484
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—
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|
3,130,484
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||||
Fixed-income funds
|
|
—
|
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522,789
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|
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—
|
|
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522,789
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|
||||
Lifestyle funds
|
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—
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886,573
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—
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886,573
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||||
Multi-asset funds
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—
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315,570
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|
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—
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|
|
315,570
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||||
U.S. government securities
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—
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311,524
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|
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—
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|
|
311,524
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|
||||
UPS Stock Fund
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|
1,330,263
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|
|
—
|
|
|
—
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|
|
1,330,263
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|
||||
Total investments — at fair value
|
|
$
|
1,599,093
|
|
|
$
|
5,166,940
|
|
|
$
|
—
|
|
|
$
|
6,766,033
|
|
|
|
Fair Value Measurements at December 31, 2014
|
||||||||||||||
|
|
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
Total
|
||||||||
Self-managed accounts*:
|
|
|
|
|
|
|
|
|
|
|||||||
Common stock
|
|
$
|
219,510
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
219,510
|
|
Mutual funds
|
|
44,457
|
|
|
—
|
|
|
—
|
|
|
44,457
|
|
||||
Interest-bearing cash
|
|
1,141
|
|
|
—
|
|
|
—
|
|
|
1,141
|
|
||||
Common and collective trusts:
|
|
|
|
|
|
|
|
|
||||||||
Equity funds
|
|
—
|
|
|
3,171,280
|
|
|
—
|
|
|
3,171,280
|
|
||||
Fixed-income funds
|
|
—
|
|
|
447,015
|
|
|
—
|
|
|
447,015
|
|
||||
Lifestyle funds
|
|
—
|
|
|
905,344
|
|
|
—
|
|
|
905,344
|
|
||||
Multi-asset funds
|
|
—
|
|
|
354,226
|
|
|
—
|
|
|
354,226
|
|
||||
U.S. government securities
|
|
—
|
|
|
321,214
|
|
|
—
|
|
|
321,214
|
|
||||
UPS Stock Fund
|
|
1,539,412
|
|
|
—
|
|
|
—
|
|
|
1,539,412
|
|
||||
Total investments — at fair value
|
|
$
|
1,804,520
|
|
|
$
|
5,199,079
|
|
|
$
|
—
|
|
|
$
|
7,003,599
|
|
4.
|
INVESTMENTS
|
|
|
2015
|
|
2014
|
||||
|
|
|
|
|
||||
Self-managed accounts
|
|
$
|
(14,106
|
)
|
|
$
|
16,507
|
|
|
|
|
|
|
||||
Common and collective trusts:
|
|
|
|
|
||||
State Street Bank & Trust Standard & Poor’s 500 Flagship Fund
|
|
1,561
|
|
|
10,939
|
|
||
State Street Bank & Trust Global Equity ex U.S. Index Fund
|
|
(1,243
|
)
|
|
(1,180
|
)
|
||
State Street Bank & Trust Standard & Poor’s Midcap Series A Fund
|
|
(193
|
)
|
|
1,135
|
|
||
State Street Bank & Trust U.S. Inflation Protected Bond Index Fund
|
|
(261
|
)
|
|
617
|
|
||
State Street Bank & Trust/Tuckerman Global Real Estate Securities Index Fund
|
|
57
|
|
|
1,821
|
|
||
State Street Bank & Trust U.S. High Yield Bond Index Fund
|
|
(665
|
)
|
|
240
|
|
||
State Street Bank & Trust World ex U.S. Index Fund
|
|
(14,796
|
)
|
|
(15,330
|
)
|
||
State Street Bank & Trust Russell 2000 Fund Series A
|
|
(18,057
|
)
|
|
20,769
|
|
||
State Street Bank & Trust Standard & Poor’s Midcap Fund
|
|
(15,286
|
)
|
|
62,167
|
|
||
State Street Bank & Trust Passive Intermediate Bond Market Fund
|
|
990
|
|
|
2,691
|
|
||
State Street Bank & Trust SSGA Age Based Income Fund
|
|
(1,009
|
)
|
|
2,038
|
|
||
State Street Bank & Trust SSGA Age Based 2010 Fund
|
|
211
|
|
|
561
|
|
||
State Street Bank & Trust SSGA Age Based 2015 Fund
|
|
(1,418
|
)
|
|
7,073
|
|
||
State Street Bank & Trust SSGA Age Based 2020 Fund
|
|
(1,618
|
)
|
|
3,837
|
|
||
State Street Bank & Trust SSGA Age Based 2025 Fund
|
|
(4,188
|
)
|
|
12,145
|
|
||
State Street Bank & Trust SSGA Age Based 2030 Fund
|
|
(1,065
|
)
|
|
2,680
|
|
||
State Street Bank & Trust SSGA Age Based 2035 Fund
|
|
(3,815
|
)
|
|
11,625
|
|
||
State Street Bank & Trust SSGA Age Based 2040 Fund
|
|
(1,203
|
)
|
|
2,371
|
|
||
State Street Bank & Trust SSGA Age Based 2045 Fund
|
|
(2,205
|
)
|
|
4,468
|
|
||
State Street Bank & Trust SSGA Age Based 2050 Fund
|
|
(1,155
|
)
|
|
1,714
|
|
||
State Street Bank & Trust SSGA Age Based 2055 Fund
|
|
(461
|
)
|
|
563
|
|
||
State Street Bank & Trust SSGA Age Based 2060 Fund
|
|
(25
|
)
|
|
**
|
|
||
State Street Bank & Trust Emerging Markets Index Fund
|
|
(13,232
|
)
|
|
(4,053
|
)
|
||
State Street Bank & Trust U.S. Diversified Bond Fund
|
|
1,734
|
|
|
10,220
|
|
||
BlackRock Equity Index Fund F
|
|
24,088
|
|
|
196,361
|
|
||
BlackRock Short Term Bond Index Fund
|
|
2,222
|
|
|
2,728
|
|
||
BlackRock UPS Strategic Completion Non-Lendable Fund F
|
|
(4,703
|
)
|
|
1,954
|
|
||
Total common and collective trusts
|
|
(55,735
|
)
|
|
340,154
|
|
||
|
|
|
|
|
||||
UPS Stock Fund
|
|
(205,740
|
)
|
|
83,434
|
|
||
|
|
|
|
|
||||
Net (depreciation) appreciation in fair value of investments
|
|
$
|
(275,581
|
)
|
|
$
|
440,095
|
|
5.
|
FEDERAL INCOME TAX STATUS
|
6.
|
PARTY-IN-INTEREST TRANSACTIONS
|
7.
|
RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
|
|
2015
|
|
2014
|
||||
Net assets available for benefits per the financial statements
|
$
|
6,831,219
|
|
|
$
|
7,065,490
|
|
Adjustment for deemed distributions from participant loans
|
(1,092
|
)
|
|
(1,006
|
)
|
||
Net assets available for benefits per Form 5500
|
$
|
6,830,127
|
|
|
$
|
7,064,484
|
|
|
|
|
|
||||
Net (decrease) increase in plan assets per the financial statements
|
$
|
(234,271
|
)
|
|
$
|
498,395
|
|
Adjustment for deemed distribution income from participant loans
|
(86
|
)
|
|
(19
|
)
|
||
Total income per Form 5500
|
$
|
(234,357
|
)
|
|
$
|
498,376
|
|
8.
|
SUBSEQUENT EVENT
|
*
|
Party-in-interest
|
**
|
Cost information is not required as all investments are participant-directed
|
Identity of Party Involved
|
Description of Asset
|
Purchase Price
|
|
Selling Price
|
|
Cost of Asset
|
|
Current Value of Asset on Transaction Date
|
|
Net Gain
|
||||||||||
Single Transactions:
|
||||||||||||||||||||
BlackRock
|
BlackRock Institutional Trust 1 3 Year Gov/Credit Bond Index Mutual Fund Fixed Income Investment Income
|
$
|
—
|
|
|
$
|
302,239,335
|
|
|
$
|
302,239,335
|
|
|
$
|
302,239,335
|
|
|
$
|
—
|
|
BlackRock
|
BlackRock Institutional Trust Equity Index Non Lendable Fund F Equity Index Fund Investment Fund
|
$
|
—
|
|
|
$
|
999,974,039
|
|
|
$
|
999,974,039
|
|
|
$
|
999,974,039
|
|
|
$
|
—
|
|
State Street
|
State Street Bank 1 3 Year Gov/Credit Bond Index Mutual Fund Fixed Income Investment Fund
|
$
|
302,239,335
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
302,239,335
|
|
|
$
|
—
|
|
State Street
|
State Street Bank Equity Index Non Lendable Fund F Equity Index Fund Investment Fund
|
$
|
999,974,039
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
99,974,039
|
|
|
$
|
—
|
|
Identity of Party Involved
|
Description of Asset
|
Purchase Price
|
|
Selling Price
|
|
Cost of Asset
|
|
Current Value of Asset on Transaction Date
|
|
Net Gain
|
||||||||||
Series Transactions:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
BlackRock
|
BlackRock Institutional Trust 1 3 Year Gov/Credit Bond Index Mutual Fund Fixed Income Investment Income
|
$
|
23,343,328
|
|
|
$
|
335,269,059
|
|
|
$
|
334,034,046
|
|
|
$
|
358,612,387
|
|
|
$
|
1,235,013
|
|
BlackRock
|
BlackRock Institutional Trust Equity Index Non Lendable Fund F Equity Index Fund Investment Fund
|
$
|
56,953,859
|
|
|
$
|
1,130,186,320
|
|
|
$
|
1,080,653,389
|
|
|
$
|
1,187,140,179
|
|
|
$
|
49,532,931
|
|
State Street
|
State Street Bank 1 3 Year Gov/Credit Bond Index Mutual Fund Fixed Income Investment Fund
|
$
|
308,967,081
|
|
|
$
|
8,953,146
|
|
|
$
|
8,611,885
|
|
|
$
|
317,920,227
|
|
|
$
|
341,261
|
|
State Street
|
State Street Bank Equity Index Non Lendable Fund F Equity Index Fund Investment Fund
|
$
|
1,023,015,151
|
|
|
$
|
17,031,334
|
|
|
$
|
10,625,741
|
|
|
$
|
1,040,046,485
|
|
|
$
|
6,405,593
|
|
|
|
|
|
|
|
|
|
|
UPS 401(k) Savings Plan
|
||
|
|
|
|
||
Date:
|
June 28, 2016
|
|
By:
|
|
/
S
/ DANIEL H. DISMUKES
|
|
|
|
|
|
Daniel H. Dismukes
|
|
|
|
|
|
Administrative Committee Member
|
1 Year United Parcel Service Chart |
1 Month United Parcel Service Chart |
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