Estimate Calculator

Discussion in 'UPS Retirement Topics' started by upsworm, Sep 21, 2014.

  1. upsworm

    upsworm New Member

    Has anyone checked the estimate calculator recently? It appears it isn't working correctly. My estimates are not based upon my weeks worked under the Service Pension Credit.
     
  2. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    I thought pension credits were based upon hours worked, not weeks.
     
  3. oldngray

    oldngray nowhere special

    It never worked well, especially with years of service calculations. Only an estimate. It is usually in the ballpark though.
     
  4. oldngray

    oldngray nowhere special

    It depends on the local but 40 weeks is common. In my local if you worked until about now (mid Sept) you got credit for a full year.
     
  5. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Our annual pension statements are all based on hours worked, with a minimum 1000 hours needed for a year of FT pension credit. I personally feel that number is way too low and should be at least 1800---this could cut down on the number of dead days drivers take.
     
  6. No. overtime does not count for pension or healthcare.
     
  7. I know that if,you retire in October.
    You will get paid for,all of next years vacation.
     
  8. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    I realize that but our pensions are based on hours worked up to 2080 per year.

    Not here.
     
  9. Thats why we have a case going to the panel. we have a small amount of our pay,going Into the pension.

    Not our choice (pension reform act). thats fine I can live with that. but we are getting screwed on the overtime money.

    The company keeps that.
     
  10. oldngray

    oldngray nowhere special

    It was always straight time hours and not OT here.
     
  11. If overtime hours went Into it, the fund would be in great shape.
     
  12. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    If overtime hours counted for pension and benefits you would see a sharp decrease in the amount worked.
     
  13. [quote="UpstateNYUPSer, post: 1410907, member: 12570"If overtime hours counted for pension and benefits you would see a sharp decrease in the amount worked.[/quote]
    I respectfully disagree. The last thing UPS would do,is hire more people.
     
  14. VonDutch

    VonDutch Bite your tongue, Missy

    Why do you feel that is an issue?
     
  15. 1989

    1989 Well-Known Member

    Our pension credits all hours worked up to 2080. So many don't get any contributions in nov/dec.
     
  16. Its a pile of crap. you are paying x. amount of dollars per hour for benefits.
    We get penalized for our overtime.
     
  17. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    This is only partially correct, although the math works out the same either way.

    Pension contributions are made only the first 40 hours per week up to 52 weeks per year, hence the 2080. OT hours do not count so you are incorrect in that many don't get any contributions during Peak.
     
  18. 1989

    1989 Well-Known Member

    Yes, yes you are...sounds like nobody can get their full 2080 hrs in your pension plan.
     
  19. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    "Yes, yes you are what?"
     
  20. We have had guys,that took too many calls. and did not get full credit.

    They will be sorry later.