Age limit

[dookie stain]

yes. after you turn 65 I believe you can collect pension, keep working at UPS or anywhere else without penalty and collect SS too. It's called triple dipping.

That's pretty bad ass but I hope by the time I am eligible for retirement I'm set financially and don't need to do that

 

[Rick Ross]

So are these "triple dippers" still getting their pension and health funded by the company? It seems the company would need a reason to let these people double dip from them...not having to make those contributions would save UPS a lot of money.

 

[By The Book]

Yes, you can draw pension at age 55 I believe.

Not usually....even though you may meet your plans eligibility requirements the plan would consider you working for the same employer. The plan needs to see a separation document stating you are no longer working there and have provided a last day of employment with UPS. After age 65 your good.

 

[By The Book]

So are these "triple dippers" still getting their pension and health funded by the company? It seems the company would need a reason to let these people double dip from them...not having to make those contributions would save UPS a lot of money.

Yes and yes. The 65 age threshold is a government number, not a UPS number. Since they are still active employees they get the active health plan, that makes total sense. To top it off all the hours these employees get contributions on will get credited to their account and recalculated back to the first day they received a pension check, loyalty is rewarded big time.

 

[scratch]

So are these "triple dippers" still getting their pension and health funded by the company? It seems the company would need a reason to let these people double dip from them...not having to make those contributions would save UPS a lot of money.

I would think you would be off of Central States Health and Welfare insurance or whatever health insurance when you get a certain age. I wonder too about pension payments by the company when you top out for pension benefits. In January I will be eligible for the highest pension amount, so working longer will not increase my pension payment unless the next contract raises it.

Not usually....even though you may meet your plans eligibility requirements the plan would consider you working for the same employer. The plan needs to see a separation document stating you are no longer working there and have provided a last day of employment with UPS. After age 65 your good.

I only know one guy thats doing this, you are right about the age of 65. I can retire and draw at 55, but 65 is the age where you can get paid three times.

 

[UpstateNYUPSer(Ret)]

Your SS benefits are based on your highest 35 years of earnings. By staying past your minimum retirement date you are increasing your benefit amount. People stay for numerous reasons past the date when they can pull the plug. As a steward I found it of no benefit to try to encourage a senior driver to retire as soon as eligible. To each is own, when it's their time they'll let you know.

It is not the steward's place to offer retirement advice.

 

[By The Book]

It is not the steward's place to offer retirement advice.

Not everything is as black and white as you may think. If you were to ask me a retirement question that I knew the answer to I would answer your question. If I were to tell you to call the pension office with a question that I knew the answer to, I'm just not being a good steward. If you want to know your amounts and work history stuff, anything personal/private I would refer you to the right office/contact.

 

[By The Book]

@scratch, your post brings up a good point. At age 65 you may be kicked off your active plan and required to go on Medicare. This is the case for retirees younger than age 65 now.

 

[UpstateNYUPSer(Ret)]

Not everything is as black and white as you may think. If you were to ask me a retirement question that I knew the answer to I would answer your question. If I were to tell you to call the pension office with a question that I knew the answer to, I'm just not being a good steward. If you want to know your amounts and work history stuff, anything personal/private I would refer you to the right office/contact.

I was referring to the more basic question---should I retire or not?

 

[trickpony1]

I was referring to the more basic question---should I retire or not?

We don't know.

TTKU

 

[By The Book]

I was referring to the more basic question---should I retire or not?

I thought that the last 2 sentences summed that up in that post, it's the retirees choice.

 

[Billy Ray]

Baby boomers eating up all the social security.

Deal with it

 

[scratch]

@scratch, your post brings up a good point. At age 65 you may be kicked off your active plan and required to go on Medicare. This is the case for retirees younger than age 65 now.

My health insurance is currently covered by Central States and at a certain age I will have to go on Medicare. In January I will top out at $3900 a month pension benefit under the current contract, my payment will not increase any if I continue working. I wonder if UPS will continue to make payments into my pension plan or they just stop them. In my fantasy world, they should make payments into my 401K plan until age 59 1/2 or award UPS stock instead.

 

[Billy Ray]

Your posts support this.

I have a wife, a home, property, 2 nice vehicles, friends, and a life.

What do you have?

 

[UpstateNYUPSer(Ret)]

My health insurance is currently covered by Central States and at a certain age I will have to go on Medicare. In January I will top out at $3900 a month pension benefit under the current contract, my payment will not increase any if I continue working. I wonder if UPS will continue to make payments into my pension plan or they just stop them. In my fantasy world, they should make payments into my 401K plan until age 59 1/2 or award UPS stock instead.

They will continue to make payments based on your efforts to be enjoyed by a future retiree.

That should tell you something.

 

[UpstateNYUPSer(Ret)]

I have a wife, a home, property, 2 nice vehicles, friends, and a life.

What do you have?

Eternal salvation.

 

[Billy Ray]

Eternal salvation.

Got that too.

 

[Billy Ray]

Eternal salvation.

I don't have a cat: you win!

 

[BSWALKS]

 

[Wally]

Just curious at what age do UPS force thier drivers to retire by.

Why work past Social Security max? Between the pension and the SS, you make more than working.