Effect of UPS deal on Central States Pension?

[jstorch]

from http://benefitslink.com/links/20071001-056296.html

(The New York Times; free registration required)

Excerpt: "The International Brotherhood of Teamsters announced last night that it had reached a tentative five-year contract with the United Parcel Service that calls for sweeping changes in the pension plan for many workers."

Times reports UPS is paying $6.1 billion to withdraw from the Central States pension plan, which would reduce the plan's underfunding from 49% to 30%. Any opinion on the short and long term effect on those remaining in the Central States plan?