how do i know about my pension?

Discussion in 'UPS Discussions' started by chargedformula, Jan 16, 2010.

  1. chargedformula

    chargedformula Parts on order, will schedule

    i worked part time as a sorter for almost 6 years. transfered over into the mechanic shop and am now in the machinist union. when i am 55 or whatever do i get a little pension from the teamsters because i became vested after the 5 years?
  2. Funfact

    Funfact Well-Known Member

    YES little
  3. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Check with your Union local. I do know that you are vested after 5 years and would be eligible for a monthly pension at regular retirement age. Your local should have all of this information.
  4. chargedformula

    chargedformula Parts on order, will schedule

    thanks! i wasnt sure who i would check with. i never got any papers from anyone. but i figure if i get $250 extra a month 30 years from now that will be like a free trip to the local red lobster every month
  5. lastoasis

    lastoasis Member

    not all, but most, PT pensions are through UPS not the Teamsters
  6. JonFrum

    JonFrum Member

    First, be sure you are, in fact, vested. You probably are, but if you did not have enough hours in each of the five years, then there's a possibility you aren't.

    A pension that is just barely vested is normally paid at age 65 or so (Normal Retirement Age) so it won't be worth much by then.

    What pension plan were you under while part-time? If it was a Teamster plan, it probably has a website with all the info you need.
  7. chargedformula

    chargedformula Parts on order, will schedule

    yeah, i have been on the machinist page and can log in, but i never found one for the teamsters. do they have one that i could possibly check?
  8. JonFrum

    JonFrum Member

    The Teamsters sponsor a different pension plan for each region of the country. And several big Locals have their own pension plans. You'll have to tell us what Local you worked in, or search the Internet for your particular plan.

    Central States part-timers are in the UPS Pension Plan, which doesn't have a website, but is described in Article 34, Section 1(i) & (k) of the National Master Agreement.

    The biggest Teamster plans are:

    Western Conference

    New England

    New York
  9. trplnkl

    trplnkl 555

    With 6 PT years in, if the $ figure is more than 2 digits there will be a decimal point in front of the last two numbers.