Death before Retirement ??

[rod]

I though I read on here when this subject came up before that somewhere some widow was in court suing because they refused to pay any of his pension because he wasn't "physically" retired at the time of death.

 

[3 done 3 to go]

We had a driver pass last yr. No wife no kids. Union kept it all. He had 20 yrs

 

[UpstateNYUPSer(Ret)]

We had a driver pass last yr. No wife no kids. Union kept it all. He had 20 yrs

Sounds like you disagree with this. How would you have handled it differently?

 

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A lump sum payment to his parents or sister. But, now that our local is cutting our pensions 45%. I will be the oldest driver in ups history. I am so anti union right now. Makes me sick

 

[UpstateNYUPSer(Ret)]

A lump sum payment to his parents or sister. But, now that our local is cutting our pensions 45%. I will be the oldest driver in ups history. I am so anti union right now. Makes me sick

While I appreciate your compassion, it would be illegal for the pension fund to do that.

Where are you getting the 45% figure from? Did you guys have your meeting on the 5th?

 

[beentheredonethat]

I asked that question about the mgmt pension fund. What they indicated is that is that if I was working and eligible to retire (ie 55 or over with required years) then my wife would receive the default of 50% survivor pension for her life. If I wasn't eligible to retire (ie under 55) then my wife would be eligible to collect the survivor pension amount (50%) when I would have turned 65. For both cases, she would also get 10x my monthly salary as a term life benefit as well as my own insurance policy I have on myself.

 

[3 done 3 to go]

While I appreciate your compassion, it would be illegal for the pension fund to do that.

Where are you getting the 45% figure from? Did you guys have your meeting on the 5th?

Yes. Retirees also. Gonna try to be the 1st driver to have an electric scooter installed for deliver. Pension has 14k drawing. With 9500 working. It's unsustainable

 

[3 done 3 to go]

Yes. Retirees also. Gonna try to be the 1st driver to have an electric scooter installed for deliver. Pension has 14k drawing. With 9500 working. It's unsustainable

While I appreciate your compassion, it would be illegal for the pension fund to do that.

Where are you getting the 45% figure from? Did you guys have your meeting on the 5th?

Backwards just like everything else with this union.

 

[Inthegame]

We had a driver pass last yr. No wife no kids. Union kept it all. He had 20 yrs

It's highly unlikely this is accurate. The "union" didn't keep anything as they aren't the pension plan. The Pension plan may not have dispersed a benefit if the terms of eligibility weren't met, but with 20 yrs, he's definitely vested. Therefore, the designated beneficiary would receive some type of benefit, normally sixty certain payments or a lump sum.

 

[3 done 3 to go]

It's highly unlikely this is accurate. The "union" didn't keep anything as they aren't the pension plan. The Pension plan may not have dispersed a benefit if the terms of eligibility weren't met, but with 20 yrs, he's definitely vested. Therefore, the designated beneficiary would receive some type of benefit, normally sixty certain payments or a lump sum.

He had no beneficiary listed. Family got nothing.

 

[UpstateNYUPSer(Ret)]

He had no beneficiary listed. Family got nothing.

The pension fund did what they were supposed to do based upon the rules of the fund.

 

[Inthegame]

A lump sum payment to his parents or sister. But, now that our local is cutting our pensions 45%. I will be the oldest driver in ups history. I am so anti union right now. Makes me sick

He had no beneficiary listed. Family got nothing.

And you're using this example to justify your displeasure with the union? So this guy didn't go through the monumental effort of listing a beneficiary, and that becomes a union deficiency? BTW, the "union" doesn't change your pension benefit, the pension fund does.

His estate may have a claim depending on your state law.

 

[3 done 3 to go]

And you're using this example to justify your displeasure with the union? So this guy didn't go through the monumental effort of listing a beneficiary, and that becomes a union deficiency? BTW, the "union" doesn't change your pension benefit, the pension fund does.

His estate may have a claim depending on your state law.

No the displeasure is all mine. I just feel a lump payment to his family instead of seizure of the entire yrs is wrong.

 

[3 done 3 to go]

The pension fund did what they were supposed to do based upon the rules of the fund.

I know. 20 yrs of nothing. Sad

 

[Inthegame]

No the displeasure is all mine. I just feel a lump payment to his family instead of seizure of the entire yrs is wrong.

So what's the answer? Should the plan trustees guess who he wanted as beneficiaries? I get the irritation, but it's 100% on him. The Fund didn't seize anything, he left it there by his inaction. Without a spouse/kids the Fund has no way to determine who of his surviving family gets how much. That was his call.
It appears he didn't care about his family as much as you do.

 

[oldupsman]

All I remember is that I took every dime I could get and the wife would be on her own after I died. (We did agree on that)

Me too. Plus I figured that way she would think twice about killing me.

 

[bottomups]

He had no beneficiary listed. Family got nothing.

Find this impossible to believe. His pension would go to his estate. If no will or beneficiaries are listed, then intestacy would apply.

 

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Find this impossible to believe. His pension would go to his estate. If no will or beneficiaries are listed, then intestacy would apply.

Nope. My steward and I looked into it also. His fault for not listing his sister or parent.

 

[bottomups]

Nope. My steward and I looked into it also. His fault for not listing his sister or parent.

Must be because of your state estate/inheritance laws. In Wisconsin his pension would fall to his estate with 60 certain payments.

 

[3 done 3 to go]

Ny. You are probably correct